For PE interviews - what is a "good" IRR or "good " cash on cash for saying yes, good buy? I'm thinking 2x-3x CoC or IRR>20?

Title says it all. I'm coming from consulting so I'm not really sure what a good range of IRR or CoC is, so when I go into interviews, I want to be able to have a good range to be able to say "It's low, you could buy but you could walk away" or "These numbers are great, definitely buy". Can someone give me a sense for what those are for IRR / CoC? My understanding is CoC >2x and IRR >20%. Is that right?

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I don't know... Yeah. Almost definitely yes.

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