A company is considering an investment. The initial cost of the investment is $$102,993,$ and it will generate annual net cash flows of $$30,000$ for $5$ years. Present value factors for an annulty of $$1$ for $5$ years follow.

$\backslash$table$[[$Interest rate,Present value of an annuity o$11],[108,3\mathrm{.}7908],[128,3\mathrm{.}6048],[168,3\mathrm{.}4331]]$

a$.$ What is the internal rate of return of this investment?

b$.$ The hurdle rate is $16\%.$ Should the company invest in this project on the basis of internal rate of return?

$\backslash$table$[[$a$.$ Internal rate of return$],[$b$.$ Should the company invest in this project on the basis of internal rate of return?$]]$