The Woodruff Corporation is considering two mutually exclusive projects. The required rate of return on these projects is 15%. The expected cash flows associated with these projects are as follows: Project X Project Y RM 150,000 RM 150,000 Year 0 1 2 3 Project X None Both 80,000 76,000 70,000 From the above information, you are required to calculate IRR for each project and which project should be accepted? Project Y 50,000 76,000 59,000