A company is considering investing in a new limited-term project. The company uses a hurdle rate of 99% when evaluating all new projects. 61 An analyst within the firm has estimated the Internal Rate of Return (IRR) to be 17.78%. Long-term interest rates are currently 11%. Based on the IRR, should the company begin the new project? No. The 17.78% IRR is greater than the 9% hurdle rate. Yes. The 17.78% IRR is greater than the 11% long-term interest rate. No. The 17.78% IRR is greater than the 11% long-term interest rate. Yes. The 17.78% IRR is greater than the 9% hurdle rate