Problem 5-11 NPV versus IRR Consider the following cash flows on two mutually exclusive projects for the Bahama Recreation Corporation (BRC). Both projects require an annual return of 16 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., 32.16.) a-2. Based on the IRR, which project should you choose? Deepwater Fishing Submarine Ride 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., 32.16.) Incremental IRR b-2. Based on the incremental IRR, which project should you choose? Submarine Ride Deepwater Fishing c-1. Compute the NPV for both projects. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) -2. Based on the NPV, which project should you choose? Deepwater Fishing Submarine Ride c-3. Is the NPV decision consistent with the incremental IRR rule? Yes No