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$$ $27,600$

$111,600$

$214,600$

$310,600$

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$.,32\mathrm{.}16.)$

b$.$ If the appropriate interest rate is $18$ percent, should the company accept the project?