Consider the following cash flows on two mutually exclusive projects for the Bahamas Recreation Corporation. Both projects require an annual return of 16 percent. Year 0 Deepwater Fishing - $985,000 405,000 538,000 455,000 New Submarine Ride -$1,920,000 970,000 835,000 820,000 2 3 a-1. Compute the IRR for both projects. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) IRR Deepwater Fishing Submarine Ride a-2. Based on the IRR, which project should you choose? Deepwater Fishing Submarine Ride b-1. Calculate the incremental IRR for the cash flows. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Incremental IRR D % b-2. Based on the incremental IRR, which project should you choose? Deepwater Fishing Submarine Ride C-1. Compute the NPV for both projects. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) NPV Deepwater Fishing Submarine Ride c-2. Based on the NPV, which project should you choose? Deepwater Fishing Submarine Ride C-3. Is the NPV rule consistent with the incremental IRR rule? Yes