Consider the following cash flows of two mutually exclusive projects for Tokyo Rubber Company. Assume the discount rate for both projects is 8 percent. Solvent Year Dry Prepreg Prepreg 0 1,500,000 650,000 1 900,000 345,000 2 700,000 570,000 725,000 360,000 3 a. What is the payback period for both projects? (Do not round Intermediate calculations. Round your answers to 2 decimal places, e.g. 32.16.) Dry Prepeg Solvent Prepeg years years b. What is the NPV for both projects? (Do not round Intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.) Dry Prepeg Solvent Prepeg c. What is the IRR for both projects? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) % Dry Prepeg Solvent Prepeg % c. What is the IRR for both projects? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) ok % Dry Prepeg Solvent Prepeg nces d. Calculate the incremental IRR for the cash flows. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Incremental IRR %