The Flour Baker is considering a project with the following cash flows. Should this project be accepted based on its internal rate of return if the required return is 11 percent?

YEAR Cashflow

0 -$69,000

1 $18,000

2 $33,000

3 $21,000

4 $13,000

Group of answer choices

Yes, because the project's rate of return is 7.56 percent

No, because the project's rate of return is 9.50 percent

Yes, because the project's rate of return is 12.31 percent

No, because the project's rate of return is 10.02 percent