A company is considering a 5-year project. The company plans to invest $60,000 now and it forecasts cash flows for each year of $16,200. The company requires a hurdle rate of 12%. Calculate the internal rate of return to determine whether it should accept this project. Selected factors for a present value of an annuity of 1, for five years are shown below: Present value of an annuity Interest rate of $1 factor for year 5 3.7908 10% 12% 14% 3.6048 3.4331 The project should be rejected because it earns less than 10%. O The project earns more than 10% but less than 12%. At a hurdle rate of 12%, the project should be rejected. O Only 9% is acceptable. O Only 10% is acceptable. The project should be accepted.