EA19. LO 11.5 Redbird Company is considering a project with an initial investment of $265,000 in new equipment that will yield annual net cash flows of $45,800 each year over its seven-year life. The company's minimum required rate of return is 8%. What is the internal rate of return? Should Redbird accept the project based on IRR? Solution What is the internal rate of return? Should Redbird accept the project based on IRR