Following is information on two alternative investments being considered by Tiger Co. The company requires a 5% return from its investments.

Project X1 Project X2

Initial Investment: (102,000) (164,000)

Expected net cash flows in:

Year 1 36,000 76,500

Year 2 46,500 66,500

Year 3 71,500 56,500

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

IRR

Project X1:?%

Project X2:?%