You work for an outdoot play structure manufacturing company and are irying to decide between the following fwo projects: Year End Cash Flows ($ thousands)
Project 0 1 2 IRR
Playhouse (minor project) -30 17 20 14,8%
Fort (majorproject) -76 39 52 12,4%
You can undertake only one project. If your cost of capital is 4%, use the incremental IRR rule to make the correct decision. The incremental IRR is ____%. (Round to two decimal places)