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

Project $1$

$-$$$488\mathrm{.}871$

$1$

$322000$

$2$

$111\mathrm{.}000$

$3$

$128\mathrm{.}500$

$136\mathrm{.}000$

Project $2$

$-$$$507\mathrm{.}031$

$127,750$

$165,170$

$220\mathrm{.}700$

$277\mathrm{.}050$

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