3 Problem 8-5 Calculating IRR (LO 3] A firm evaluates all of its projects by applying the IRR rule. Year Cash Flow 2.5 150,000 points 66,000 1 eBook 73,000 2 References 57,000 What is the project's IRR? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Internal rate of return % If the required return is 16 percent, should the firm accept the project