Consider the following cash flows on two mutually exclusive projects for the Bahamas Recreation Corporation $($BRC$).$ Both projects require an annual return of $18$ percent.

Year Deepwater Fishing New Submarine Ride

$0$$ $1,030,000$$ $2,010,000$

$1450,0001,060,000$

$2574,000880,000$

$3500,000910,000$

c$-1.$ Compute the NPV for both projects. $($Do not round intermediate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

c$-2.$ Based on the NPV$,$ which project should you choose?

multiple choice $3$

$$ Submarine Ride

$$ Deepwater Fishing

c$-3.$ Is the NPV decision consistent with the incremental IRR rule?