2. An investment has an initial cost of $1.42 million and a life of 6 years. The annual cash flows from this equipment are estimated to be $325,000. $355,000, $305,000, $360,000, $375,000 and $280,000. Should this project be accepted based on internal rate of return (IRR) if the required rate is 10 percent? Why or why not? a. yes; because the IRR is greater than 10% b. yes; because the IRR is less than 10% C. no; because the IRR is greater than 10% d. no; because the IRR is equal to 10% e.no; because the IRR is less than 10%