Internal Rate of Return Analysis Hermson Company must evaluate two capital expenditure proposals. Hermson's hurdle rate is 12%. Data for the two proposals follow. Proposal X Proposal Y Required investment $190,000 $190,000 Annual after-tax cash inflows 42,000 After-tax cash inflows at the end of years 3, 6, 9, and 12 126,000 Life of project 12 years 12 years What is the internal rate of return for Proposal X? For Proposal Y? Use Excel to compute your answers. Round answers to the nearest whole percentage (ex: 0.1854 = 19%) Proposal 37 X % Proposal Y 22 X %