How do you solve for

Consider two mutually exclusive projects with year-end cashflows as shown. At a MARR of 8%, which project would be worth pursuing using the concept of incremental IRR.

	X	Y
0	-$12,000	-$9,000
1	$2,000	$4,000
2	$6,000	$4,000
3	$4,000	$2,000
4	$4,000	$2,000

Right Answer:	Project Y
Answers:	Project X
	Project Y
	Either would be fine
	Cannot be deduced