Question: 3. A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 9. 0 1 2 3 4 0.

3. A company is analyzing two mutually exclusive projects, S and L,

3. A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 9. 0 1 2 3 4 0. Project S Project L -$1,000 -$1,000 $887.94 $0 $250 $260 $10 $400 $5 $799.38 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. %

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