firm's cost of capital is 15%. 16 IRR: Mutually exclusive projects Bell Manufacturing is attempting to choose the ity. The relevant cash flows for the projects are shown in the following table. The better of two mutually exclusive projects for expanding the firm's warehouse capac ssess the acceptability of each project on the basis of the IRRs found in parta. Long Project X -$500,000 Initial investment (CF) Year (1) 1 $100,000 2 120,000 3 150,000 4 190,000 5 250,000 c. Which project, on this basis, is preferred? Project Y -$325,000 Cash inflows (CF) $140,000 120,000 95,000 70,000 50,000 a. Calculate the IRR to the nearest whole percent for each of the projects