You wish to evaluate a project requiring a $$59,400$ initial investment and having a useful life of seven years. What minimum annual cash inflow do you need if the cost of capital is $8\mathrm{.}5\%?$ If the project earns $$12,800$ per year, what is its IRR? Is the project acceptable?

The minimum annual cash inflow necessary is $$,($Round to the nearest cent.$)$