Viera Corporation is considering investing in a new facility. The estimated cost of the facility is $1 , 660 , 000 . It will be used for 12 years, then sold for $742 , 000 . The facility will generate annual cash inflows of $399 , 000 and will need new annual cash outhows of $204 , 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 onswer to 0 decimal places, eg. 13\%]