1. Firm evaluates all of its projects by applying the IRR rule.
Year Cash Flow
0 -$ 150,000
1 66,000
2 73,000
3 57,000
Requirement 1:
What is the project's IRR? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)
If the required return is 16 percent, should the firm accept the project?