Park Co. is considering an investment that requires immediate payment of $38,000 and provides expected cash inflows of $8,514 annually for six years. Assume Park Co. requires a 7% return on its investments. (FV of $1, PV of $1, FVA of $1 and PVA of $1) (Use appropriate factor(s) from the tables provided.)

1-a. What is the internal rate of return? (Round your present value factor to 4 decimals and your internal rate of return to 2 decimals.) 1-b. Based on its internal rate of return, should Park Co. make the investment? O Yes O No