The rule for project acceptance under the internal rate of return method is that:

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The internal rate of return (IRR) method for project acceptance dictates that a project should be accepted if its IRR exceeds the hurdle rate (also known as the required rate of return or the cost of capital). This is because an IRR higher than the hurdle rate implies that the project is expected to generate returns greater than the minimum required by the investors or the company, making it a financially viable project.

The Rule for Project Acceptance Under the Internal Rate of Return