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

Year	Cash Flow
0	$80,400
1	21,850
2	25,700
3	31,500
4	26,350
5	20,500

If the required return is 16 percent, should the project be accepted based on the IRR?

Multiple Choice

• No, because the IRR is 18.49 percent.

• No, because the IRR is 17.07 percent.

• Yes, because the IRR is 17.78 percent.

• Yes, because the IRR is 17.07 percent.

• Yes, because the IRR is 18.49 percent.