The Management of Ivanhoe Manufacturing Company is evaluating two forklift systems to use in its plant that produces the towers for a windmill power farm. The costs and the cash flows from these systems are shown below. The company uses a 11 percent discount rate for all projects.

	Year 0	Year 1	Year 2	Year 3
Otis Forklifts	$-3,142,450	$969,225	$1,378,886	$2,109,497
Craigmore Forklifts	$-4,149,410	$891,236	$1,757,225	$2,857,110

	NPV
Otis Forklift	$392,307
Craigmore Forklifts	$168,802

Compute the IRR for each of the two systems. (Round intermediate calculation to 0 decimal places, e.g. 1,525 and final answers to 2 decimal places, e.g. 15.10%.)

	IRR
Otis Forklift
Craigmore Forklifts