Consider the following cash flows of two mutually exclusive projects for Tokyo Rubber Company. Assume the discount rate for both projects is 12 percent.

Consider the following cash flows of two mutually exclusive projects for Tokyo Rubber Company. Assume the discount rate for both projects is 12 percent. Solvent Year Dry Prepreg Prepreg o 21,750,000 775,000 1 1,105,000 400,000 910,000 650,000 3 755,000 400,000 WN - 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.) Dry Prepeg Solvent Prepeg years 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 Incremental IRR J %