Suppose an investor is interested in purchasing the following income-producing property at a current market price of $490,000. The prospective buyer has estimated the expected cash flows over the next four years to be as follows: year 1 = $48,000; year 2 = $49,440; year 3 = $50,923; year 4 = $52,451. Assuming that the required rate of return is 14 percent and the estimated proceeds from selling the property at the end of year 4 is $560,000, what is the IRR of the project