Question: 7 A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: year01234Project S-$1,000$892.28$240$5$15Project L-$1,000$5$240$400$803.98 The company's WACC is 10.0%.

A company is analyzing two mutually exclusive projects, S and L, with the following cash flows:

year01234Project S-$1,000$892.28$240$5$15Project L-$1,000$5$240$400$803.98

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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