Current Attempt in Progress In June 2020, the following data was prepared by Chuckie Chams Productions for preparing the merchandise purchases budget for the month of July: 1 2. Expected sales: June $584,000; July $630,000 Cost of goods sold is expected to be 55% of sales. Desired ending merchandise inventory is 35% of the following month's cost of goods sold. The beginning inventory at July 1 will be the desired amount. 3. Calculate the budgeted merchandise purchases for June. Chuckie Chams Productions Merchandise Purchases Budget For June Sierra Company is considering a long-term investment project called ZIP ZIP will require an investment of $214,680. It will have a useful life of four years and no salvage value. Annual cash inflows would increase by $143.120, and annual cash outflows would Increase by $73,349. The company's required rate of return is 12%. Calculate the internal rate of return on this project. (Round answer to 1 decimal place, e.g. 12.4%) Internal rate of return % Identify whether the project should be accepted or rejected The project should be