Following is information on two alternative investments being considered by Tiger Co. The company requires a 7% return from its investments.

	Project X1					Project X2
Initial investment		$	(116,000	)			$	(192,000	)
Expected net cash flows in year:
1			43,000					87,000
2			53,500					77,000
3			78,500					67,000

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.

	IRR		Acceptable?
Project X1		%
Project X2		%