Your company has a project available with the following cash flows:

Year	Cash Flow
0	$82,100
1	21,000
2	24,000
3	29,800
4	25,500
5	18,800

If the required return is 12 percent, should the project be accepted based on the IRR?

1. Yes, because the IRR is 13.88 percent.
2. No, because the IRR is 15.04 percent.
3. No, because the IRR is 13.88 percent.
4. Yes, because the IRR is 14.46 percent.
5. Yes, because the IRR is 15.04 percent.