What are the IRRs for the projects? (Round final answer to 2 decimal places, e.g. 15.25%.) The IRR of Project 1 is %, and the IRR of Project 2 is %. b. Does the IRR criterion indicate a different decision than the NPV criterion?

Management of Cullumber Measures, Inc., is evaluating two independent projects. The company uses a 11.30 percent discount rate for such projects. The costs and cash flows for the projects are shown in the following table. Year 0 1 2 3 Project 1 - $8,285,775 3,203,590 1,935,890 1,400,100 1,182,200 1,142,280 1,533,040 1,495,290 Project 2 - $12,661,917 2,181,330 3,904,490 3,142,780 4,408,600 4,340,480 4 5 6 7