X Company is considering launching a new product. After conducting a market research study that cost $4,600, the company estimates sales of 8,500 units in each of the next 4 years, with a contribution margin of $6.00 per unit. Additional fixed costs will be $17,160. Equipment costing $120,000 will have to be purchased; the equipment will have no salvage value at the end of 4 years. What is the internal rate of return of launching the new product? [Submit your rate as a decimal: .XX]