(Related to Checkpoint 11.4) (IRR calculation) Determine the internal rate of return on the following project: An initial outlay of $11,000 resulting in a cash inflow of $1,800 at the end of year 1,$4,700 at the end of year 2 , and $8,400 at the end of year 3 . This project's internal rate of return is \%. (Round to two decimal places.)