The Merriweather Printing Company is trying to decide on the merits of constructing a new publishing facility. The project is expected to provide a series of positive cash flows for each of the next four years. The estimated cash flows associated with this project are as follows:

Year	Project Cash Flow
0	?
1	$780,000
2	350,000
3	270,000
4	510,000

If you know that the project has a regular payback of 3 years, what is the project's IRR? The IRR of the project is (?)%. (Round to two decimal places.)