Problem 9-7 Calculating IRR [LO5] A firm evaluates all of its projects by applying the IRR rule. A project under consideration has the following cash...

Problem 9-7 Calculating IRR [LO5]

A firm evaluates all of its projects by applying the IRR rule. A project under consideration has the following cash flows:

YearCash Flow0-$28,800 1 12,800 2 15,800 3 11,800 

If the required return is 13 percent, what is the IRR for this project? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

  IRR % 

Should the firm accept the project?

 No

Yes