Answer:
yes, because the IRR is 12.74 percent
Explanation:
given data 
present value =  $1.46 million
first year cash inflows c1 =  $223,000
next three years cash inflows c2,c3,c4 = $600,000
rate of return minimum = 12 % 
to find out 
firm purchase this particular machine based on its IRR 
solution
we consider here IRR is = r 
we apply here present value formula that is express as 
present value =  .......1
  .......1
put here value  
$1.46 million =  
    
solve it we get 
r = 12.74%
so here IRR = 12.74% is higher than the rate of return minimum = 12%
so it will create a positive net present value of cash inflows
and project will accepted and firm purchase the machine
so we can say yes, because the IRR is 12.74 percent