IRR-Mutually exclusive projects Bell 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 14% a. 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 X is [% (Round to two decimal places.) MW Scor Data Table lingt (Click on the icon here spreadsheet) in order to copy the contents of the data table below into a Project X Project Y Initial investment (CF) $500,000 $290,000 Year (0) Cash inflows (CF) 1 $100,000 $160,000 2 $140,000 $100,000 3 $170,000 $75,000 4 $180,000 $50,000 5 $240,000 $60,000 Print Done