Quantitative Problem: Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects after-tax cash rows are shown on the time line below. Depreciation, salvage values, net operating working capital requirements, and tax effects are all included in these cash flows. Both projects have 4-year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC 9% 0 1 2 3 Project Projects 900 -900 500 430 320 315 380 395 310 400 What is Project Delta' TAR? Do not round intermediate calculations, Round your answer to two decimal places What is the significance of this IRRY It is the or after this point when mutually exclusive projects are considered there is no conflict in project acceptance between the NPV and TRR approaches