8 16 points Skipped Problem 13-19 IRR (LG13-4) Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is 8 percent, and that the maximum allowable payback and discounted payback statistics for the project are 3.5 and 4.5 years, respectively. Time: 0 Cash flow: -$7,700 1 $1,110 2 $2,310 3 $1,510 4 5 $1,510 $1,310 6 $1,110 eBook Hint Use the IRR decision rule to evaluate this project. (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.) Print References IRR %