Crane, Inc., a resort management company, is refurbishing one of its hotels at a cost of $6,640,181. Management expects that this will lead to additional cash flows of $1,530,000for the next six years. What is the IRR of this project? If the appropriate cost of capital is 12 percent, shouldCranego ahead with this project?(Round answer to 2 decimal places, e.g. 5.25%.)

The IRR of this project is

enter the IRR of this project in percentages rounded to 2 decimal places

%The firm should

select an option

accept

reject

the project