Connect Only Problem $13-11$ IRR $($LG$13-4)$

Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on

projects of this risk class is $7$ percent, and that the maximum allowable payback and discounted payback statistics for the

project are $3\mathrm{.}5$ and $4\mathrm{.}5$ years, respectively.

Use the IRR decision rule to evaluate this project.

Note: Negative amount should be indicated by a minus sign. Round your answer to $2$ decimal places.

IRR

Should it be accepted or rejected?