Sierra Company is considering a long-term investment project called ZIP. ZIP will require an investment of $225,480. It will have a useful life of four years and no salvage value. Annual cash inflows would increase by $150,320, and annual cash outflows would increase by $77,039. The companys required rate of return is 12%. Calculate the internal rate of return on this project. (Round answer to 1 decimal place, e.g. 12.4%.)

Internal rate of return

%

Identify whether the project should be accepted or rejected.

The project should be