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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 8 percent, and that the maximum allowable payback and discounted payback statistics for the project are 3.5 and 4.5 years, respectively. Time: Cash flow 0 -$6.800 $1,140 2 $2,340 $1,540 5 $1,340 $1,540 6 $1,140 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? O accepted O rejected

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