Consider two mutually exclusive new product launch projects that Nagano Golf is considering. Assume the discount rate for both products is 12 percent.

Project A:	Nagano NP-30.
	Professional clubs that will take an initial investment of $700,000 at Time 0.
	Next five years (Years 15) of sales will generate a consistent cash flow of $300,000 per year.
	Introduction of new product at Year 6 will terminate further cash flows from this project.

Project B:	Nagano NX-20.
	High-end amateur clubs that will take an initial investment of $850,000 at Time 0.
	Cash flow at Year 1 is $250,000. In each subsequent year cash flow will grow at 10 percent per year.
	Introduction of new product at Year 6 will terminate further cash flows from this project.

Year	NP-30			NX-20
0	$	700,000		$	850,000
1		300,000			250,000
2		300,000			275,000
3		300,000			302,500
4		300,000			332,750
5		300,000			366,025

Complete the following table: (Do not round intermediate calculations. Round your "PI" answers to 3 decimal places, e.g., 32.161, and other answers to 2 decimal places, e.g., 32.16. Enter your IRR answers as a percent.)

	NP-30			NX-20
Payback		years			years
IRR		%			%
PI
NPV	$			$