The Fitness Center is considering including a treadmill in this year's capital budget. The cash outlay for the treadmill is $1,140. The firm's cost of capital is 11.3%. After-tax cash flows, including depreciation, are as shown in the table below. Calculate the internal rate of return (IRR) for this project. End of Year 1 2 Cash Flow $275 275 275 275 275 3 4 5 The IRR of the project is %. (Round to two decimal places.)