Consider two mutually exclusive new product launch projects that Nagano Golf is considering. Assume the discount rate for both projects is 8 percent.

Project A:	Nagano NP-30.
	Professional clubs that will take an initial investment of $960,000 at Time 0. Introduction of new product at Year 6 will terminate further cash flows from this project.

Project B:	Nagano NX-20.
	High-end amateur clubs that will take an initial investment of $700,000 at Time 0. Introduction of new product at Year 6 will terminate further cash flows from this project.

Year	NP-30			NX-20
0	$	960,000		$	700,000
1		347,000			261,000
2		337,000			279,000
3		312,000			263,000
4		308,000			243,000
5		218,000			188,000

Complete the following table: (Do not round intermediate calculations. Enter the IRR as a percent. Round your profitability index (PI) answers to 3 decimal places, e.g., 32.161, and other answers to 2 decimal places, e.g., 32.16.)

	NP-30			NX-20
NPV	$			$
IRR		%			%
PI

What is the incremental IRR of investing in the larger project? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Incremental IRR %