Quick Sale Real Estate Company is planning to invest in a new development. The cost of the project will be $23 million and is expected to generate cash flows of $12,000,000, $11,000,000, and $8,200,000 over the next three years. The company's cost of capital is 17 percent. What is the internal rate of return on this project and should the project be accepted? (Do not round intermediate computations. Round final answer to the nearest percent.)