Problem 7-21 Comparing Investment Criteria Consider two mutually exclusive new product launch projects that Nagano Golf is considering. Assume the discount rate for both projects is 13 percent. Project A: Nagano NP-30. Professional clubs that will take an initial investment of $900,000 at Time 0. Introduction of new product at Year 6 will terminate further cash flows from this project. Project B: Nagano NX-20. High-end amateur clubs that will take an initial investment of $646,000 at Time 0. Introduction of new product at Year 6 will terminate further cash flows from this project. Year NP-30 NX-20 0 $ 900,000 $ 646,000 1 335,000 255,000 2 325,000 260,000 3 300,000 245,000 4 290,000 225,000 5 200,000 176,000 Complete the following table: (Do not round intermediate calculations. Enter the IRR as a percent. Round your profitability index (PI) answers to 3 decimal places, e.g., 32.161, and other answers to 2 decimal places, e.g., 32.16.) NP-30 NX-20 NPV $ $ IRR % % PI What is the incremental IRR of investing in the larger project? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)