A paper company invests $2m to clear a tract of land and plant some young pine trees. The trees will mature in 10 years, at which time the forest will have a market value of $6m. The required rate of return for long-term projects is 15%. Calculate the internal rate of return for the paper company's investment and decide if the project should be accepted or rejected.

Group of answer choices

IRR = 11.61% < 15.0%, reject

IRR = 17.55% < 15.0%, accept

IRR = 7.18% < 15.0%, reject

IRR = 16,91% < 15.0%, accept