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value: 2.50 points A firm evaluates all of its projects by applying the IRR rule. A project under consideration has the following cash flows: Year

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value: 2.50 points A firm evaluates all of its projects by applying the IRR rule. A project under consideration has the following cash flows: Year Cash Flow 0 $29,000 13,000 16,000 2 3 12,000 If the required return is 15 percent, what is the IRR for this project? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Should the firm accept the project? O No Yes

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