Question: 4. Problem 11.12 (IRR and NPV) eBook Problem Walk-Through A company is analyzing two mutually exclusive projects, S and L, with the following cash flows:

4. Problem 11.12 (IRR and NPV) eBook Problem Walk-Through A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 1 1 2 3 4 Project S Project L -$1,000 $891.73 -$1,000 $5 $240 $250 $10 $400 $10 $842.49 The company's WACC is 8.5%. 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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