Problem $5-11$ NPV versus IRR

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.

a$-1.$ Compute the IRR for both projects. $($Do not round intermediate calculations and

enter your answers as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

a$-2.$ Based on the IRR, which project should you choose?

Submarine Ride

Deepwater Fishing

b$-1.$ Calculate the incremental IRR for the cash flows. $($Do not round intermediate

calculations and enter your answer as a percent rounded to $2$ decimal places,

e$.$g$.,32\mathrm{.}16.)$