Management of Blossom Automotive, a manufacturer of auto parts, is considering investing in two projects. The company typically compares project returns to a cost of funds of 17.00 percent. Year 0 1 Project 1 - $507,039 317,000 102,000 130,500 131,000 Project 2 - $539,778 126,750 170,170 265,700 274,050 2 3 4. Compute the IRRs based on the cash flows. Which project(s) will be accepted? (Round final answer to 2 decimal places, e.g. 15.25%.) The IRR of project 1 is % and the project should be The IRR of project 2 is % and the project should be V Management of Blossom Measures, Inc., is evaluating two independent projects. The company uses a 1.38 percent discount rate for such projects. The costs and cash flows for the projects are shown in the following table. Year 0 1 2 Project 1 - $8,176,748 2,903,390 1,598,290 1,237,600 1,058,900 1,091,380 1,423,940 1,229,290 Project 2 - $11,735,522 1,901,330 3,408,790 2,813,080 3,704,300 4,100,780 3 4 5 6 7 a. What are the IRRs for the projects? (Round final answer to 2 decimal places, e.g. 15.25%.) The IRR of Project 1 is %, and the IRR of Project 2 is %. b. Does the IRR criterion indicate a different decision than the NPV criterion