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	$	1,010,000		$	1,970,000
1		430,000			1,020,000
2		558,000			860,000
3		480,000			870,000

a)	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	%

b)	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

%

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

	NPV
Deepwater Fishing	$
Submarine Ride	$