Following is information on two alternative investment projects being considered by Tiger Company. The company requires a 6% return from its investments.

	Project X1	Project X2
Initial investment	$ (114,000)	$ (188,000)
Net cash flows in:
Year 1	42,000	85,500
Year 2	52,500	75,500
Year 3	77,500	65,500

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.

Note: Round your answers to 2 decimal places.