Problem 9-7 Calculating IRR [LO5] 10 points A firm evaluates all of its projects by applying the IRR rule. A project under consideration has the following cash flows: Year Cash Flow 0 27000 111,000 2 14,000 3 10,000 eBook References If the required return is 16 percent, what is the IRR for this project? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) IRR Should the firm accept the project? No Yes