Question: A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: Project S Project L -$1,000 $897.46 -$1,000 $0 $250

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

A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: Project S Project L -$1,000 $897.46 -$1,000 $0 $250 $250 $10 $400 $5 $789.26 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. D %

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