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 $(126,000) $(212,000)

Expected net cash flows in year:

1 48,000 94,500

2 58,500 84,500

3 83,500 74,500

Commute the internal rate of return for each of the projects using excel functions and based on internal rate of return, indicate whether each project is acceptable (Round your answers to 2 decimal places).