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 $-84,970 $-76,998
1 $28,191 $25,368
2 $40,517 $36,146
3 $29,277 $23,626

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

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