Scotch can expand a successful manufacturing line for an immediate investment of $$81$ million. The company anticipates that the project will generate a cash flow of $$148$ million in $8$ years $($and only in that one year$).$ The company considers the required rate of return of the project to be $12\mathrm{.}55\%$

PART $1.$ Calculate the project's internal rate of return:

Notes on Formatting: Place your answer in PERCENTAGE form with two decimal places of accuracy. For example, if your answer is thirteen point seventy five percent, then place your answer as $13\mathrm{.}75$ and NOT as $\mathrm{.}1375.$

PART $2.$ Given your estimate of the IRR, should Scotch accept or reject the project? Type the word "accept" if you believe they should go ahead with the project or the word "reject" if you believe they should not go ahead with the project.