The Fitness Center is considering including a treadmill in this year's capital budget. The cash outlay for the treadmill is

$1,040.

The firm's cost of capital is

11.7%.

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	Cash Flow
1	$320
2	320
3	320
4	320
5	320

The IRR of the project is

nothing%.