If the projects below are mutually exclusive with the same discount rate of __ 10.5___%. What is the Incremental IRR?

	Project A	Project B
Initial cost (KD)	54,500	79,400
Cashflow year 1 (KD)	16,400	0
Cashflow year 2 (KD)	28,900	48,300
Cashflow year 3 (KD)	31,700	42,100

a. 11.23 percent

b. 7.83 percent

c. -12.89 percent

d. 4.08 percent

e. 15.40 percent