Long-term investmentdecision, IRR methodPersonal Finance ProblemBilly and Mandy Jones have $24,000 to invest. Onaverage, they do not make any investment that will not return at least 7.7% per year. They have been approached with an investment opportunity that requires $24,000 upfront and has a payout of $6,100 at the end of each of the next 5 years. Using the internal rate of return(IRR) method and theirrequirements, determine whether Billy and Mandy should undertake the investment.