Question: A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 4 Project S - $1,000 $870.91 $260 $ 10

A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 4 Project S - $1,000 $870.91 $260 $ 10 $5 Project L - $1,000 $10 $250 $420 $788.41 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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