Given the following cash flows for a project, which of the following statement is correct regarding IRR. The required return is 15.5 percent Year Cash Flow 0 -$152,000 1 98,200 2 102,300 3 -4,900 O Yes; The IRR exceeds the required return. O Yes; The IRR is less than the required return. No; The IRR is less than the required return. You cannot apply the IRR rule in this case. O No; The IRR exceeds the required return