Consider the following cash flows on two mutually exclusive projects for the B.C. Recreation Corporation (BCRC). Both projects require an annual retum of 13 percent. Year Deepwater Fishing New Submarine Ride -$530,000 - $1,950,000 230,000 1,150.000 350.000 700.000 250.000 790,000 0 As a financial analyst for BCRC. you are asked to answer the following questions: 2-1. Calculate the IRR for both projects. (Do not round Intermediate calculations. Round the answer to 2 decimal places.) IRR 26.75 Deepwater Fishing Nes Submarine Ride 18.281 2-2. If your decision rule is to accept the project with the greater IRR, which project should you choose? Deepwater Fishing New Submarine Ride b-1. Calculate the incremental IRR for the projects. (Do not round Intermediate calculations. Round the answer to 2 decimal places.) Incremental IRR 14.99 % b-2. Because you are fully aware of the IRR rule's scale problem, you calculate the incremental IRR for the cash flows. Based on your computation, which project should you choose? Deepwater Fishing O New Submarine Ride c-1. Compute the NPV for both projects. (Do not round Intermediate calculations. Round the answers to 2 decimal places.) NPV $ Deepwater Fishing New Submarine Ride $ c-2. Which project should you choose? O Deepwater Fishing O New Submarine Ride c-3. Is it consistent with the incremental IRR rule? O Yes, always consistent O No, always inconsistent