Question: A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 01234Project S-$1,000$891.38$240$10$15Project L-$1,000$0$250$380$831.98 The company's WACC is 8.0%. What

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

01234Project S-$1,000$891.38$240$10$15Project L-$1,000$0$250$380$831.98

The company's WACC is 8.0%. 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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