Item$5$

$10$

points

eBookPrintReferencesCheck my workCheck My Work button is now enabled$3$Item $5$

Problem $8-5$ Calculating IRR $[$LO $3]$

A firm evaluates all of its projects by applying the IRR rule.

Year Cash Flow

$0$$ $41,000$

$120,000$

$223,000$

$314,000$

What is the project's IRR?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

If the required return is $14$ percent, should the firm accept the project?