Viera Corporation is considering investing in a new facility. The estimated cost of the facility is $1,564,297. It will be used for 12 years, then sold for $714,000. The facility will generate annual cash inflows of $351,200 and will need new annual cash outflows of $155,100. The company has a required rate of return of 7%. Calculate the internal rate of return on this project. (Round answer to 0 decimal place, e.g. 13%.)