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 Project 1 - $462,692 286,000 100,000 137,500 149,000 Project 2 - $512,611 110.750 165,170 250,700 271,050 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