Marielle Machinery Works forecasts the following cash flows on a project under consideration. It uses the internal rate of return rule to accept or reject projects.

C0 C1 C2 C3

$ 10,200 0 + $ 7,700 + $ 8,700

Calculate the IRR. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

IRR % ?

Should this project be accepted if the required return is 14%?

Yes No