Management of Sunland 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.

Year

$0$

$1$

$2$

$3$

$4$

Project $1$

$-$ $$488,871$

$322,000$

$111,000$

$128,500$

$136,000$

Project $2$

$-$ $$507,031$

$127,750$

$165\mathrm{.}170$

$220,700$

$277,050$

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

$\%$ and the project should be