Consider the following cash flows of two mutually exclusive projects for Scotia Rubber Company. Assume the discount rate for Scotia Rubber Company is 7 percent. (Do not round intermediate calculations. Round the answers to 2 decimal places. Omit $ sign in your response.)

Year	Dry Prepreg		Solvent Prepreg
0	$	1,870,000	$	835,000
1		1,117,000		460,000
2		934,000		770,000
3		767,000		424,000

a. What is the payback period for each project?

	Payback period
Dry Prepreg	years
Solvent Prepreg	years

b. What is the NPV for each project?

	NPV
Dry Prepreg	$
Solvent Prepreg	$

c. What is the IRR for each project? (Omit '%' sign in your response.)

	IRR
Dry Prepreg	%
Solvent Prepreg	%

d. Calculate the incremental IRR for the cash flows. (Omit '%' sign in your response.)

Incremental IRR %