Following is information on two alternative investments. Beachside Resort is considering building a new pool or spa. The company requires a 9% return from its investments.

	Pool	Spa
Initial investment	$ (175,000)	$ (120,000)
Net cash flows in:
Year 1	41,500	33,500
Year 2	57,500	51,500
Year 3	81,795	67,500
Year 4	91,900	73,500
Year 5	66,500	25,500

Compute the internal rate of return for each of the projects using excel functions. (Round your answers to 2 decimal places.)