Tamarisk Corporation is considering investing in a new facility. The estimated cost of the facility is $1,903,000. It will be used for 12 years, then sold for $800,000. The facility will generate annual cash inflows of $369,000 and will need new annual cash outflows of $143,000. The company has a required rate of return of 8%. Calculate the internal rate of return on this project, and discuss whether the project should be accepted. (Round answer to 0 decimal places, e.g. 13%.)