1.)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 = $ -27,200 1=11,200 2 =14,200 3 =10,200 If the required return is 16 percent, what is the IRR for this project? (Round your answer to 2 decimal places. (e.g., 32.16)) IRR %

2.)Should the firm accept the following project?