Sandhill, Inc., a resort management company, is refurbishing one of its hotels at a cost of $$8,917,608.$ Management expects that this will lead to additional cash flows of $$2,050,000$ for each of the next six years. What is the IRR of this project? If the appropriate cost of capital is $12$ percent, should Sandhill go ahead with this project? $($Round answer to $4$ decimal places, e$.$g$.5\mathrm{.}2516\%.)$

The IRR of this project is $\%$

The firm should $$ the project.

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