Current Attempt in Progress Ivanhoe Incorporated management is considering investing in two alternative production systems. The systems are mutually exclusive, and the cost of the new equipment and the resulting cash flows are shown in the accompanying table. The firm uses a 8 percent discount rate for production systems. Year 0 System 1 -$12,490 12,536 System 2 -$44,703 30,270 30,270 1 2 12,536 3 12,536 30,270 Compute the IRR for both production system 1 and production system 2. (Do not round intermediate calculations. Round answers to 2 decimal places, e.g. 15.25%.) IRR of system 1 is % and IRR of system 2 is Which has the higher IRR? vhas higher IRR