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:

0

1

2

3

4

Project S	-$1,000	$906.62	$240	$5	$5
Project L	-$1,000	$10	$240	$420	$765.07

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.

%

Project S	-$1,000	$906.62	$240	$5	$5
Project L	-$1,000	$10	$240	$420	$765.07

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.

%