Problem 3 Consider the following cash flows on two mutually exclusive projects for the Bahamas Recreation Corporation. Both projects require an annual return of 15 percent. Deepwater Submarine Ride Year Fishing 0-$965,000 -$1,880,000 385,000 930,000 1 2 522,000 815,000 780,000 3 435,000 a TV AW a-1. Compute the IRR for both projects. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) a-2. Based on the IRR, which project should you choose? b-1. Calculate the incremental IRR for the cash flows. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b-2. Based on the incremental IRR, which project should you choose? C-1. Compute the NPV for both projects. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) C-2. Based on the NPV, which project should you choose? C-3. Is the NPV rule consistent with the incremental IRR rule