You are evaluating the following two projects:

	Year-End Cash Flows ($ thousands)
Project	0	1	2
X	35	23	22
Y	85	42	63

Use the incremental IRR to determine the range of discount rates for which each project is optimal to undertake. Note that you should also include the range in which it does not make sense to take either project.

Fill in the incremental cash flows in the bottom row of the chart:(Round to the nearest integer.)

	Year-End Cash Flows ($ thousands)
Project	0	1	2
X	35	23	22
Y	85	42	63
Incremental Cash Flow

.