The firm's IRR-Mutually exclusive projects Bell Manufacturing is attempting to choose the better of two mutually exclusive projects for expanding the firm's warehouse capacity. The relevant cash flows for the projects are shown in the following table: cost of capital is 17%. a. Calculate the IRR for each of the projects. Assess the acceptability of each project on the basis of the IRRs. b. Which project is preferred? a. The internal rate of return (IRR) of project X is 1%. (Round to two decimal places.) Data Table x (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Project X $500,000 Project Y $300,000 Initial investment (CF) Year (t) 1 2 3 Cash inflows (CF) $120,000 $160,000 $150,000 $100,000 $170,000 $105,000 $170,000 $60,000 $260,000 $40.000 4 5 Print Done Enter your answer in the answer box and then click Check