You are considering two mutually exclusive projects. Project X has cash flows of $$$$80,000,$ $$20,000,$ $$32,000,$ and $$64,000$ for Years $0$ to $3,$ respectively. Project Y has cash flows of $$$$94,000,$ $$22,000,$ $$41,000,$ and $$72,000$ for Years $0$ to $3,$ respectively. Project X has a required return of $9$ percent while Project Y$\text{'}$s required return is $11$ percent. Should you accept or reject these mutually exclusive projects based on IRR analysis?

Multiple Choice

Reject both projects

Accept Project X and reject Project Y

Accept both projects

Reject Project X and accept Project Y

You should not use IRR; use a different method of analysis.