Franklin Manufacturing Company has an opportunity to purchase some technologically advanced equipment that will reduce the company$$s cash outflow for operating expenses by $$1,288,000$ per year. The cost of the equipment is $$5,399,903\mathrm{.}94.$ Franklin expects it to have a $10-$year useful life and a zero salvage value. The company has established an investment opportunity hurdle rate of $19$ percent and uses the straight$-$line method for depreciation. $($PV of $$1$ and PVA of $$1)$

Note: Use appropriate factor$($s$)$ from the tables provided.

Required

Calculate the internal rate of return of the investment opportunity.

Note: Do not round intermediate calculations.

Indicate whether the investment opportunity should be accepted.