You are a consultant to a firm evaluating an expansion of its current business. The cash-flow forecasts (in millions of dollars) for the project are as follows:

Years	Cash Flow
0	100
1 to 10	+17

On the basis of the behavior of the firms stock, you believe that the beta of the firm is 1.32. Assume that the rate of return available on risk-free investments is 3% and that the expected rate of return on the market portfolio is 16%. What is the project IRR? (Express your answer in % terms after rounding to the nearest integer)