Consider the following cash flows on two mutually exclusive projects for the Bahamas Recreation Corporation $($BRC$).$ Both projects require an annual return of $17$ percent.

Year Deepwater Fishing New Submarine Ride

$0$$ $1,015,000$$ $1,980,000$

$1435,0001,030,000$

$2562,000865,000$

$3485,000880,000$

Calculate the incremental IRR for the cash flows.

Compute the NPV for both projects.