Calculate the IRR for Project X and Project Y. Which of the following projects should Acme Hotel select for expanding the hotel's banquet facility? The relevant cash flows for the projects are shown in the following table: Project X Project Y Initial investment (CF) $500,000 $310,000 Year (1) Cash inflows (CF) 1 $130,000 $120,000 2 $130,000 $140,000 3 $170,000 $85,000 4 $190.000 $90,000 5 $240.000 $40,000 The firm's cost of capital is 19%. Project X has a higher IRR than project and the IRR of Y does not exceed the cost of capital. Project Y has a higher IRR than project X and the IRR of X does not exceed the cost of capital O Neither project should be selected