Wichita air balloon tours is considering buying 2 new balloons with an initial cost of $62,917 for both balloons. They estimate cash flows specifically related to the new balloon projects would be $11,400 in 16 months, $15,001 in 17 months, $11,430 in 28 months, $28,149 in 38 months, and 38,998 in 49 months when they sell the balloons. Find the project IRR assuming monthly compounding.