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A firm evaluates all of its projects by applying the IRR rule. The current proposed project has cash flows of $-$$$27,048,$$$11,850,$$$15,700,$ and $$4,300$ for years $0$ to $3,$ respectively. The required return is $8$ percent. What is the project IRR? Should the project be accepted or rejected?

$11\mathrm{.}77\%,$ reject

$9\mathrm{.}84\%,$ accept

$11\mathrm{.}77\%,$ accept

$7\mathrm{.}86\%,$ reject

$9\mathrm{.}84\%,$ reject

$7\mathrm{.}86\%,$ accept