Schaueffle Machines, Inc., has a project with the following cash flows. The company evaluates all projects by applying the IRR rule. Year Cash Flow 0 $27700 1 11,700 2 14,700 3 10,700 a. 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.) b. If the appropriate interest rate is 18 percent, should the company accept the project? a. IRR % b. Accept project