A proposed project has an initial cost of $$38,000$ and cash inflows of $$12,300,$$$24,200,$ and $$16,100$ for Years $1$ through $3,$ respectively. The required rate of return is $18\mathrm{.}6$ percent. Based on IRR, should this project be accepted? Why or why not?

No; The IRR is less than the required return.

No; The IRR exceeds the required return.

No; The IRR equals the required return.

Yes; The IRR exceeds the required return.

Yes; The IRR equals the required return