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

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

A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 1 2 3 4 Project S Project L -$1,000 -$1,000 $899.28 $10 $240 $10 $5 $240 $400 $788.29 The company's WACC is 9.0%. 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. 12 %

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