Following is information on two alternative investment projects being considered by Tiger Company. The company requires a $7\%$ return from its investments.

Project X$1$ Project X$2$

Initial investment $ $(96,000)$ $ $(152,000)$

Net cash flows in:

Year $133,00072,000$

Year $243,50062,000$

Year $368,50052,000$

Compute the internal rate of return for each of the projects using Excel functions. Based on internal rate of return, indicate whether each project is acceptable.