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

$$Project X$1$Project X$2$Initial investment$ $(114,000)$$ $(188,000)$Net cash flows in:$$Year $142,00085,500$Year $252,50075,500$Year $377,50065,500$

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.