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A firm evaluates all of its projects by applying the IRR rule. A project under...

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Accounting

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A firm evaluates all of its projects by applying the IRR rule. A project under consideration has the following cash flows: Year Cash Flow 0 28,700 1 12,700 2 15,700 3 11.700 If the required return is 15 percent, what is the IRR for this project? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) IRR Should the firm accept the project? Yes No

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