Following is information on two alternative investments being considered by Jolee Company. The company requires a 10% return from its investments.

	Project A					Project B
Initial investment		$	(160,000	)			$	(105,000	)
Expected net cash flows in:
Year 1			40,000					32,000
Year 2			56,000					50,000
Year 3			80,295					66,000
Year 4			90,400					72,000
Year 5			65,000					24,000

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