Schaueffle Machines, Inc., has a project with the following cash flows. The company evaluates all projects by applying the IRR rule.

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 1 2 3 $28,200 12,200 15,200 11,200 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 13 percent, should the company accept the project? a. IRR % b. Accept project