Management of Sandhill Automotive, a manufacturer of auto parts, is considering investing in two projects. The company typically

compares project returns to a cost of funds of $17$ percent.

Compute the IRRs based on the cash flows. Which project$($s$)$ will be accepted? $($Round final answers to $3$ decimal places, e$.$g$.15\mathrm{.}251\%.)$

The IRR of project $1$ is

The IRR of project $2$ is

$\%$ and the project should be

$\%$ and the project should be