View the step-by-step solution to: A firm evaluates all of its projects by applying the IRR rule.

A firm evaluates all of its projects by...
A firm evaluates all of its projects by applying the IRR rule. The IRR for the following project is percent. If the required return is 16 percent, the firm should the project. (Do not include the percent sign (%). Round your answer to 2 decimal places. (e.g., 32.16))

Year Cash Flow
0 −$34,000
1 16,000
2 18,000
3 15,000

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