Please solve this problem without using excel: You work for an outdoor play structure manufacturing company and are trying to decide between the following two$$ projects:$($Click on the following icon

in order to copy its contents into a$$ spreadsheet.$)$

$$Year$-$End Cash Flows$($$ thousands$)$

Project $012$ IRR

Playhouse $-28182124\mathrm{.}5\%$

Fort $-7939529\mathrm{.}5\%$

You can undertake only one project. If your cost of capital is $6\%$

$,$

use the incremental IRR rule to make the correct decision.

What is the incremental IRRYou work for an outdoor play structure manufacturing company and are trying to decide between the following two projects: $($Click on the following icon $$ in order to copy its contents into a spreadsheet.$)$

Year$-$End Cash Flows $($$ thousands$)$

You can undertake only one project. If your cost of capital is $9\%,$ use the incremental IRR rule to make the correct decision.

The incremental IRR is $\%.($Round to two decimal places.$)$