Rogue River, Inc. is considering a project that has an initial outlay or cost of $240,000. The respective future cash inflows from its four-year project for years 1 through 4 are: $50,000 , $60,000 , $70,000 , and $80,000 respectively. Rogue River uses the internal rate of return method to evaluate projects. Will Rogue River accept the project if its hurdle rate is 10%?

2.64-reject

3.04 reject or accept

3.49 reject or accept