The A.M.I. Company is considering installing a new process machine for the firm's manufacturing facility. The machine costs $550,000 installed, will generate additional revenue of $70,000 per year, and will save $57,000 per year in labor and material costs. The machine will be financed by a $216,000 bank loan repayable in three equal annual installments with a 11% interest rate. The machine will be depreciated using seven-year MACRS. The useful life of the machine is 10 years when the machine will be sold for $28,000. The marginal tax rate is 21%. Compute the IRR of the investment. Enter your answer as a percentage rounded to the nearest tenth of a percent