Problem 8-15 IRR (LO3)

Marielle Machinery Works forecasts the following cash flows on a project under consideration. It uses the internal rate of return rule to accept or reject projects.

	C0				C1				C2				C3
		$	10,700			0			+	$	8,200		+	$	9,200

Calculate the IRR. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

IRR

%

Should this project be accepted if the required return is 15%?

	Yes
	No