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	$	27,500
1		11,500
2		14,500
3		10,500

If the required return is 16 percent, what is the IRR for this project? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

IRR = ______%

Should the firm accept the project? YES OR NO

multiple choice

• No

• Yes