Coronado Corporation is considering investing in a new facility. The estimated cost of the facility is $$2,190,000.$ It will be used for $12$ years, then sold for $$771,000.$ The facility will generate annual cash inflows of $$392,000$ and will need new annual cash outflows of $$142,000.$ The company has a required rate of return of $5\%.$

Calculate the internal rate of return on this project, and discuss whether the project should be accepted. $($Round answer to $0$ decimal places, e$.$g$.13\%.)$

Internal rate of return

$\%$

The project should be