A firm evaluates all of its projects by applying the IRR rule.

Year

Cash Flow

$0$

$$$ $164,000$

$1$

$52,000$

$2$

$87,000$

$3$

$71,000$

What is the project's IRR?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

If the required return is $12$ percent, should the firm accept the project?