2. Problem 11.02 (IRR) EB eBook Problem Walk-Through Project L requires an initial outlay at t = 0 of $88,321, its expected cash inflows are $14,000 per year for 10 years, and its WACC is 9%. What is the project's IRR? Round your answer to two decimal places. % Attempts: Keep the Highest: /1 7. Problem 11.12 (IRR and NPV) E eBook B Problem Walk-Through A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 1 2 3 4 Projects -$1,000 $894.49 $250 $5 $10 Project L -$1,000 $5 $240 $400 $834.32 The company's WACC is 10.0%. What is the IRR of the better project? (Hint: The better project may or may not be the one with the higher IRR.) Round your answer to two decimal places. %