21. An investment has the following cash flows and a required return of 5 percent. Based on IRR, should this project be accepted? Why or why not?

Year	Cash Flow
0	-$45,000
1	$15,300
2	$28,400
3	$7,500

Yes; The IRR exceeds the required return by about 2.3 percent.

Yes; The IRR is less the required return by about 1.53 percent.

No; The IRR is less than the required return by about 2.3 percent.

No; The IRR exceeds the required return by about 2.3 percent.

No; The IRR is less than the required return by about 1.53 percent.