Consider two mutually exclusive new product launch projects that Nagano Golf is considering. Assume the discount rate for both projects is 11 percent.

Project A: Nagano NP-30. Professional clubs that will take an initial investment of $980,000 at Time 0. 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 $718,000 at Time 0. Introduction of new product at Year 6 will terminate further cash flows from this project.

Year	NP-30			NX-20
0	$	980,000		$	718,000
1		351,000			267,000
2		341,000			283,000
3		316,000			267,000
4		314,000			249,000
5		224,000			192,000

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

What is the incremental IRR of investing in the larger project? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Incremental IRR %