Consider two mutually exclusive new product launch projects that Nagano Golf is considering. Assume the discount rate for both products is 13 percent.

Project A:	Nagano NP-30.
	Professional clubs that will take an initial investment of $640,000 at Time 0.
	Next five years (Years 15) of sales will generate a consistent cash flow of $275,000 per year.
	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 $650,000 at Time 0.
	Cash flow at Year 1 is $190,000. In each subsequent year cash flow will grow at 10 percent per year.
	Introduction of new product at Year 6 will terminate further cash flows from this project.

Year	NP-30			NX-20
0	$	640,000		$	650,000
1		275,000			190,000
2		275,000			209,000
3		275,000			229,900
4		275,000			252,890
5		275,000			278,179

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

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