P. Rose, Inc. is considering a new four-year expansion project that requires an initial fixed asset investment of $1,950,000. The asset will be depreciated straight-line to zero over its six-year tax life, after which time it will be worthless. The project is estimated to generate $2,145,000 in annual sales, with costs of $1,205,000. The fixed asset will have a market value of $250,000 at the end of the project. Assuming a 34% tax rate, what is the IRR for this project? If the required rate of return is 14%, should they accept this project?