A firm evaluates all of its projects by applying the IRR rule. A project under consideration has the following cash flows:

Year	Cash Flow
0	$	27,400
1		11,400
2		14,400
3		10,400

If the required return is 16 percent, what is the IRR for this project? (Round your answer to 2 decimal places. (e.g., 32.16))

IRR

%

Should the firm accept the following project?

	Yes
	No