Viera Corporation is considering investing in a new facility. The estimated cost of the facility is $$2,045,000.$ It will be used for $12$ years, then sold for $$716,000.$ The facility will generate annual cash inflows of $$400,000$ and will need new annual cash outflows of $$150,000.$ The company has a required rate of return of $7\%.$ Calculate the internal rate of return on this project, and discuss whether the project should be accepted. Please answer the questions in proper steps and with a good explaination by using the formula IRR$=$ Initial Investment$/$ Net Annual Cash Flow