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	$900.85	$240	$5	$15
Project L	-$1,000	$10	$250	$420	$798.19

The company's WACC is 9.5%. 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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B.

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	$320	$370	$700
Project Y	-$1,000	$1,100	$90	$45	$55

The projects are equally risky, and their WACC is 12%. What is the MIRR of the project that maximizes shareholder value? Do not round intermediate calculations. Round your answer to two decimal places.

______ %