Consider the following cash flows on two mutually exclusive projects for the Bahamas Recreation Corporation (BRC) Both projects require an annual return of 14 percent Year Deepwater Fishing New Submarine Ride 0 950,000 1,850,000 1 370,000 900,000 2 510,000 800,000 3 420,000 750,000 a 1 Compute the IRR for both projects (Do not round intermediate calculations Round your answers to 2 decimal places (e g , 32 16))

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Question: Consider the following cash flows on two mutually exclusive projects for the Bahamas Recreation Corporation (BRC). Both projects require an annual return of 14 percent.

Consider the following cash flows on two mutually exclusive projects for the Bahamas Recreation Corporation (BRC). Both projects require an annual return of 14 percent.

Year	Deepwater Fishing	New Submarine Ride
0		950,000	1,850,000
1		370,000	900,000
2		510,000	800,000
3		420,000	750,000

a-1.	Compute the IRR for both projects.(Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))

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