IRRMutually exclusive projects Ball Manufacturing is attempting to choose the better of two mutually exclusive projects for expanding the firm's warehouse capacity. The relevant cash flows for the projects are shown in the following table: The firm's cost of capital is 16% Calculate the IRR for each of the projects. Assess the acceptability of each project on the basis of the IRRS b. Which project is preferred? a. The internal rate of return (IRR) of project Xis % (Round to two decimal places) Data Table - X (Click on the icon here in order to copy the contents of the data table below into a spreadsheet) Project X Project Y Initial investment (CF) $500,000 $340,000 Year Cash inflows (CF) $120,000 $140,000 2 $130,000 5130,000 3 $150,000 $105,000 4 $180,000 $80,000 $270,000 $50,000 1 Print Done Enter your answer in the answer box and then click Check Answer 4 parts Clear All Check Answer remaining