Consider the following cash flows of two mutually exclusive projects for Tokyo Rubber Company. Assume the discount rate for both projects is 10 percent.

Problem 5-18 Comparing Investment Criteria Consider the following cash flows of two mutually exclusive projects for Tokyo Rubber Company. Assume the discount rate for both projects is 10 percent. Solvent Year Dry Prepreg Prepreg o $1,830,000 815,000 $ 1,113,000 440,000 2 926,000 730,000 3 763,000 416,000 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 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 % 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 %