$"$ As the Chief Financial Officer $($CFO$)$ of a public listed company $($property sector$)$ in Bursa Malaysia, you are evaluating an investment opportunity in a new project in Cyberjaya, Selangor. The initial investment is RM$13,$ooo million with a required rate of return of $8\%.$ After consulting with the project team, the project is expected to generate operating cash flows of: Year $1$: RM$4000$ million, Year $2$: RM$8000$ million, and Year $3$: RM$6000$ million.

Question: How much is the internal rate of return $($IRR$)?$ Should the project be accepted or rejected? Critically evaluate your answer and provide justification on it$.$ Please show all calculation and formula.