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

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Project S $-$$$1,000$ $$892\mathrm{.}30$ $$240$ $$15$ $$10$

Project L $-$$$1,000$ $$10$ $$250$ $$380$ $$776\mathrm{.}82$

The company's WACC is $8\mathrm{.}0\%.$ 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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b$.$ eBook Problem Walk$-$Through

A firm is considering two mutually exclusive projects, X and Y$,$ with the following cash flows:

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Project X $-$$$1,000$ $$110$ $$300$ $$430$ $$700$

Project Y $-$$$1,000$ $$900$ $$110$ $$55$ $$50$

The projects are equally risky, and their WACC is $8\%.$ What is the MIRR of the project that maximizes shareholder value? Do not round intermediate calculations. Round your answer to two decimal places.

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