Revenues generated by a new fad product are forecast as follows: ...

Revenues generated by a new fad product are forecast as follows:

Year	Revenues
1	$46,000
2	30,000
3	20,000
4	10,000
Thereafter	0

Expenses are expected to be 50% of revenues, and working capital required in each year is expected to be 30% of revenues in the following year. The product requires an immediate investment of $51,000 in plant and equipment.

What is project IRR?

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.