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

Year	Dry Prepreg			Solvent Prepreg
0	$	1,810,000		$	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 each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

	Payback period
Dry Prepreg	1.92 1.92 Incorrect years
Solvent Prepreg	2.20 2.20 Incorrect years

b. What is the NPV for each project? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

	NPV
Dry Prepreg	$ 94643.09 94643.09 Incorrect
Solvent Prepreg	$ 89318.70 89318.70 Incorrect

c. What is the IRR for each project? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

	IRR
Dry Prepreg	19.08 19.08 Incorrect %
Solvent Prepreg	13.69 13.69 Incorrect %

d. Calculate the incremental IRR for the cash flows. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Incremental IRR Not attempted%