A firm evaluates all of its projects by applying the IRR rule. Year 0 1. Cash Flow -$157,300 47,000 78,000 64,000 2 a. What is the project's IRR? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. If the required return is 11 percent, should the firm accept the project? a. Internal rate of return % b. Project acceptance