Following is information on two alternative investments being considered by Tiger Co. The company requires a 4% return from its investments.

	Project X1					Project X2
Initial investment		$	(120,000	)			$	(200,000	)
Expected net cash flows in year:
1			45,000					90,000
2			55,500					80,000
3			80,500					70,000

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

	IRR
Project X1		%
Project X2		%

Based on internal rate of return, indicate whether each project is acceptable.

Project X1
Project X2