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 Project 1 Project 2 0 - $481,910 - $523,025 1 321,000 116,750 2 110,000 192,170 3 117,500 227,700 4 137,000 254,050 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 (reject/accept)?. The IRR of project 2 is ? % and the project should be (reject/accept)?