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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

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 $ 29,000
1 13,000
2 16,000
3 12,000

If the required return is 15 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

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