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

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

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Project S	-$1,000	$882.50	$250	$15	$5
Project L	-$1,000	$5	$260	$420	$769.95

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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Project S	-$1,000	$882.50	$250	$15	$5
Project L	-$1,000	$5	$260	$420	$769.95

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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