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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 -$5,900 1 $1,170 2 $2,370 3 $1,570 4 $1,570 5 $1,370 6 $1,170 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.) Answer is complete but not entirely correct. IRR 35.33 X % Should it be accepted or rejected

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