Problem 5-18 Comparing Investment Criteria Consider the following cash flows of two mutually exclusive projects for Tokyo Rubber Company. Assume the discount rate for both projects is 9 percent. Solvent Year Dry Prepreg Prepreg 0 $1,850,000 $825,000 1 1,115,000 450,000 2 930,000 750,000 3 765,000 420,000 Nm a. What is the payback period for both projects? (Do not round intermediate calculations. Round your answers to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. Dry Prepeg Solvent Prepeg 1.90 years 1.60 X years d. 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.) Answer is complete but not entirely correct. Incremental IRR 9.00 %