Tax effects are all included in these cash flows

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Bellinger Industries is considering two projects for inclusion in its capital budget, and you have been asked to do the analysis. Both projects' after-tax cash flows are shown on the time line below. Depreciation, salvage values, net operating working capital requirements, and tax effects are all included in these cash flows. Both projects have 4-year lives, and they have risk characteristics similar to the firm's average project. Bellinger's WACC is 11%. 0 1 2 3 4 Project A -1,200 600 450 330 300 Project B -1,200 400 330 410 745 What is Project Delta's IRR? Round your answer to two decimal places.

Reference no: EM131056348

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