Cooper Corporation must evaluate two capital expenditure proposals. Cooper$$s hurdle rate is $10\%.$ Data for the two proposals follow.

Proposal X Proposal Y

Required investment

$170,000$

$170,000$

Annual after$-$tax cash inflows

$37,000$

After$-$tax cash inflows at the end of years $3,6,9,$ and $12$

$109,000$

Life of project $12$ years $12$ years

What is the internal rate of return for Proposal X$?$ For Proposal Y$?$

Use Excel to compute your answers.

Round answers to the nearest whole percentage $($ex: $0\mathrm{.}1854=19\%)$

Proposal X Answer

$\%$

Proposal Y Answer

$\%$