Consider the following cash flows of two mutually exclusive projects for Tokyo Rubber Company. Assume the discount rate for both projects is 8 percent.

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 Prereg: %

Solvent Prereg: %

d. Calculate the incremental IRR for the cash flows

Solvent Year Dry Prepreg Prepreg o 51,810,000 $805,000 1 1,111,000 430,000 2 922,000 710,000 3 761,000 412,000 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.) years Dry Prepeg Solvent Prepeg 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