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9.87) A proposed project has an initial cost of $38,000 and cash inflows of $12,300, $24,200, and S16,100 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? A) No; The IRR exceeds the required return. B) No; The IRR is less than the required return. C) Yes; The IRR exceeds the required return. D) Yes; The IRR equals the required return. E) No; The IRR equals the required return