King$$s Department Store is considering the purchase of a new machine at a cost of $$23,105.$ The machine will provide $$3,600$ per year in cash flow for ten years. King$$s cost of capital is $11$ percent.

a$.$ What is the IRR? $($Use a Financial calculator to arrive at the answers. Round the final answer to the nearest whole percent.$)$

IRR

$\%$

b$.$ Using the IRR method, evaluate this project and indicate whether it should be undertaken.

multiple choice

Yes

No$????$