Eyas' Enterprises is considering a new $3-$year expansion project that requires an initial fixed asset investment of $$2\mathrm{.}18$ million. The fixed asset will be depreciated straight$-$line to zero over its $3-$year tax life, after which time the company expects it will be worthless. The project is estimated to generate $$1\mathrm{.}645$ million in annual sales, with annual costs of $$0\mathrm{.}61$ million.

Suppose now that the project requires an initial investment in Net Working Capital of $$250,000,$ and the fixed asset will have a market value of$$180,000$ at the end of the project. Create a third tab in your worksheet and prepare an updated projection of total cash flows. Using these cash flows, compute the project's internal rate of return $($IRR$).$

Using the results of your worksheet, in the space below, state the IRR as a percentage to two decimal places, and indicate whether the project should be accepted using the IRR rule.