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Suppose your firm is considering investing in a project with the cash flows shown below,...

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Suppose your firm is considering investing in a project with the cash flows shown below, that the required rate of return on projects of this risk class is 8 percent, and that the maximum allowable payback and discounted payback statistics for the project are 3.5 and 4.5 years, respectively. 0 6 Time: Cash flow: -$5,000 1 $1,200 2 $2,400 3 $1,600 4 $1,600 5 $1,400 $1,200 Use the IRR decision rule to evaluate this project. (Do not round intermediate calculations and round your final answer to 2 decimal places.) IRR % Should it be accepted or rejected? O rejected accepted

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