5-11 NPV versus IRR Consider the following cash flows on two mutually exclusive projects for the Bahamas Recreation Corporation (BRC). Both projects require an annual return of 15 percent. Year Deepwater Fishing New Submarine Ride 0 -$975,000 -$1,900,000 1 395,000 950,000 2 530,000 825,000 3 445,000 800,000 a-1. Compute the incremental IRR for the cash flow (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)