A proposed project has an initial cost of $38,000 and cash inflows of $12.300, $22.400 and $16,100 for years through 3. respectively. The required rate of return is 16.8 percent. Based on IRR, should this project be accepted? Why or why not? Yes: The IRR exceeds the required return by 0.58 percent. No: The IRR exceeds the required return by 0.58 percent Yes: The IRR exceeds the required return by about 1.47 percent. Yes: The IRR is less than the required return by 0.58 percent. No: The IRR is less than the required return by 1.47 percent