Following is information on two alternative investment projects being considered by Tiger Company. The company requires a $4\%$ return from its investments.

Project X$1$ Project X$2$

Initial investment $ $(120,000)$ $ $(200,000)$

Net cash flows in:

Year $145,00090,000$

Year $255,50080,000$

Year $380,50070,000$

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.