Should a project be accepted or rejected if the project has an internal rate of return that

Question:

Should a project be accepted or rejected if the project has an that is less than the company’s hurdle rate?
You are the CFO for an automobile manufacturer. The board of directors is considering expanding the current product line to include sports utility vehicles. As you look at the new product line’s it is 12% and the company’s overall is 15%. Should the new line be added to the company’s existing lines? The board wants your input before they make a decision.
What factors should you consider?

Internal Rate of Return
Internal Rate of Return of IRR is a capital budgeting tool that is used to assess the viability of an investment opportunity. IRR is the true rate of return that a project is capable of generating. It is a metric that tells you about the investment... Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal...