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 $11$ percent, and that the maximum allowable payback and discounted payback statistics for your company are $3\mathrm{.}0$ and

$3\mathrm{.}5$ years, respectively.

Use the IRR decision rule to evaluate this project.

Note: Do not round intermediate calculations and round your final answer to $2$ decimal places.