Consider the following cash flows of two mutually exclusive projects for Scotia Rubber Company. Assume the discount rate for Scotia Rubber Company is 11 percent: (Do not round intermediate calculations. Round the answers to 2 decimal places. Omit $ sign in your response.) Year 1 2 3 Dry Prepreg -$1,740,000 1,104,000 908,000 754,000 Solvent Prepreg -$ 770,000 395,000 640,000 398,000 a. What is the payback period for each project? Dry Prepeg Solvent Prepeg Payback period 1.70 years 1.59 years b. What is the NPV for each project? Dry Prepeg Solvent Prepeg NPV $ $ c. What is the IRR for each project? IRR Dry Prepeg Solvent Prepeg % d. Calculate the incremental IRR for the cash flows. Incremental IRR 21 %