Consider the following cash flows on two mutually exclusive projects for the Bahamas Recreation Corporation $($BRC$).$ Both projects require an annual return of $17$ percent.

Year Deepwater Fishing New Submarine Ride

$0$$ $1,005,000$$ $1,960,000$

$1425,0001,010,000$

$2554,000855,000$

$3475,000860,000$

b$-1.$ Calculate the incremental IRR for the cash flows.

c$-1.$ Compute the NPV for both projects.