Question: You are analyzing the following two mutually exclusive projects and have developed the following information: Year Project A Cash Flows Project B Cash Flows 0

You are analyzing the following two mutually exclusive projects and have developed the following information:

Year Project A Cash Flows Project B Cash Flows
0 $-86,204 $-77,923
1 $31,304 $25,972
2 $40,882 $34,858
3 $28,853 $25,208

What is the incremental IRR (i.e., crossover rate)? (Answer in percentage terms and round answer to 2 decimals)

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