Novak Corporation is considering investing in a new facility. The estimated cost of the facility is $2,232,000. It will be used for 12 years, then sold for $804,000. The facility will generate annual cash inflows of $449,000 and will need new annual cash outflows of $159,000. The company has a required rate of return of 7%. Calculate the internal rate of return on this project, and discuss whether the project should be accepted. (Round answer to O decimal places, e.g. 13%.) Internal rate of return The project should be %

Novak Corporation is considering investing in a new facility. The estimated cost of the facility is \\( \\$ 2,232,000 \\). It will be used for 12 years, then sold for \\( \\$ 804,000 \\). The facility will generate annual cash inflows of \\( \\$ 449,000 \\) and will need new annual cash outflows of \\( \\$ 159,000 \\). The company has a required rate of return of \7. Calculate the internal rate of return on this project, and discuss whether the project should be accepted. (Round answer to 0 decimal places, eg. 13\\%)