Consider the following cash flows on two mutually exclusive projects for the B.C Recreation Corporation (BCRC). Both projects require an annual return of 16 percent. Year Deepwater Fishing New Submarine Ride -$840,000 $3,500, eee 1 540, eee 2,700,000 2 660, eee 1,320,000 3 560,000 1,410,000 As a financial analyst for BCRC, you are asked to answer the following questions: a-1. Calculate the IRR for both projects. (Do not round intermediate calculations. Round the answer to 2 decimal places.) IRR Deepwater Fishing New Submarine Ride a-2. If your decision rule is to accept the project with the greater IRR, which project should you choose? Deepwater Fishing New Submarine Ride