Consider the following cash flows of two mutually exclusive projects for Scotia Rubber Company. Assume the discount rate for Scotia Rubber Company is 8 percent: (Do not round intermediate calculations. Round the answers to 2 decimal places. Omit $ sign in your response.)

Year	Dry Prepreg		Solvent Prepreg
0	$	1,710,000	$	755,000
1		1,101,000		380,000
2		902,000		610,000
3		751,000		392,000

a. What is the payback period for each project?

	Payback period
Dry Prepeg	years
Solvent Prepeg	years

b. What is the NPV for each project?

	NPV
Dry Prepeg	$
Solvent Prepeg	$

c. What is the IRR for each project?

	IRR
Dry Prepeg	%
Solvent Prepeg	%

d. Calculate the incremental IRR for the cash flows.

Incremental IRR %