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Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this

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Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is 9 percent, and that the maximum allowable payback and discounted payback statistics for the project are 2.0 and 3.0 years, respectively. Time: 0 1 Cash flow: -$9,200 $1,060 2 $2,260 3 $1,460 4 $1,460 5 $1,260 6 $1,060 Use the IRR decision rule to evaluate this project. (Negative amount should be indicated by a minus sign. Round your answer to 2 decimal places.) IRR % Should it be accepted or rejected? accepted rejected

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