Rachel is reviewing a project with an initial cost of $38,700 and cash inflows of $9,800, $16,400, and $21,700 for Years 1 to 3, respectively. Should the project be accepted if it has been assigned a required return of 9.75 percent? Why or why not? Multiple Choice

No, because the IRR is only 9.69 percent.

Yes, because the IRR exceeds the required return by .34 percent

Yes, because the IRR is less than the required return by .28 percent

Yes, because the IRR exceeds the required return by .28 percent

No, because the IRR exceeds the required return by .34 percent