20 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 flows are shown on the timeline 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 is 10% 0 1 2 4 Project Project B -1,100 -1,100 590 270 360 280 220 390 280 770 What is Project Delta's IRR? Do not round intermediate calculations. Round your answer to two decimal places