Bell Manufacturing is attempting to choose the better of two mutually exclusive projects for expanding the firm's warehouse capacity. The relevant cash flows for the projects are shown in the following table:. The firm's cost of capital is 13%. a. Calculate the IRR for each of the projects. Assess the acceptability of each project on the basis of the IRRs. b. Which project is preferred? a. The internal rate of return (IRR) of project X is %. Is project X acceptable on the basis of IRR? No Yes The internal rate of return (IRR) of project Y is %. Is project Y acceptable on the basis of IRR? Yes No b. Which project is preferred? A. Neither B. Project Y C. Project X