Following is information on two alternative investments being considered by Jolee Company. The company requires a 12% return from its investments.

Project A Project B Initial investment $ (188,000 ) $ (133,000 ) Expected net cash flows in: Year 1 47,000 39,000 Year 2 63,000 57,000 Year 3 87,295 73,000 Year 4 97,400 73,000 Year 5 72,000 73,000

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