PHILI Pitt Company is considering two alternative investments. The company requires a 12% return from its investments. Neither option has a salvage value Project X $242,416 Project Y $174,118 Initial investment Net cash flows anticipated: Year 1 81,000 35,000 55,000 Year 2 58,000 93,000 Year 3 71,000 Year 4 82,000 67,000 26,000 Year 5 76,000 A. Compute the IRR for both projects using the IRR Spreadsheet function. Project X Project Y B. Which plochould becomended. Ch 11 HW Content Area