Problem 5-19 Comparing Investment Criteria 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 $630,000 at Time 0. Next five years (Years 1-5) of sales will generate a consistent cash flow of $265,000 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 $600,000 at Time 0. Cash flow at Year 1 is $180,000. 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 1 2 3 4 5 -$630,000 265,000 265,000 265,000 265,000 265,000 $600,000 180,000 198,000 217,800 239,580 263,538 Complete the following table: (Do not round intermediate calculations. Round your "Pl" 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 $