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

a.What is the project's IRR?(Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

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

multiple choice

• Yes
• No