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 12 percent.

Time:	0	1	2	3	4	5
Cash flow:	$348,000	$65,200	$83,400	$140,400	$121,400	$80,600

Use the IRR decision rule to evaluate this project. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

IRR%=_______

Should it be accepted or rejected?

• rejected

• accepted