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Following is information on two alternative investment projects being considered by Tiger Company. The company requires a 7% return from its investments. Project X1 Project

Following is information on two alternative investment projects being considered by Tiger Company. The company requires a 7% return from its investments. Project X1 Project X2 Initial investment $ (126,000) $ (212,000) Net cash flows in: Year 1 48,000 94,500 Year 2 58,500 84,500 Year 3 83,500 74,500 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

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