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A firm is uses the IRR capital budgeting technique to evaluate capital budgeting decisions. It is considering a project that has the following cash lows:

A firm is uses the IRR capital budgeting technique to evaluate capital budgeting decisions. It is considering a project that has the following cash lows:
Year 0 -$500,000
Year 1 $130,000
Year 2 $130,000
Year 3 $140,000
Year 4 $150,000
Year 5 $125,000
Year 6 $100,000
Should the company accept this project if it requires a 16% return on all capital expenditures?

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