please explain steps

A proposed project has an initial cost of $38,000 and cash inflows of $12,300, $24,200, and $16,100 for years 1 through 3, respectively. The required rate of return is 16.8 percent. Based on IRR, should this project be accepted? Why or why not? Multiple Choice No; The IRR exceeds the required return by 58 percent. Yes: The IRR exceeds the required return by about 103 percent. Yes; The IRR exceeds the required return by 58 percent. No; The IRR is less than the required return by 1.03 percent Yes: The IRR is less than the required return by 58 percent