Management of Crane 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 2 Project 1 - $489,158 319,000 99,000 116,500 152.000 Project 2 - $503,986 105,750 182,170 256.700 262,050 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 accepted rejected Touthools and Media