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Following is information on two alternative investments. Beachside Resort is considering building a new pool...

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Accounting

Following is information on two alternative investments. Beachside Resort is considering building a new pool or spa. The company requires a 9% return from its investments.

Pool Spa
Initial investment $ (175,000) $ (120,000)
Net cash flows in:
Year 1 41,500 33,500
Year 2 57,500 51,500
Year 3 81,795 67,500
Year 4 91,900 73,500
Year 5 66,500 25,500

Compute the internal rate of return for each of the projects using excel functions. (Round your answers to 2 decimal places.)

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