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 18.6 percent. Based on IRR, should this project be accepted? Why or why not? Group of answer choices

No; The IRR equals the required return.

No; The IRR exceeds the required return.

Yes; The IRR exceeds the required return.

No; The IRR is less than the required return.

Yes; The IRR equals the required return.