Problem 9-7 Calculating IRR [LO5]

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	$ 28,800
1	12,800
2	15,800
3	11,800

If the required return is 13 percent, what is the IRR for this project? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Should the firm accept the project?

multiple choice

No

Yes