A company is analyzing two mutually exclusive projects, S and L, whose cash flows are shown below:

Years 0 1 2 3 4

S -1098 711 429 184 96

L -1476 1499 423 320 -96

The companys cost of capital is 15 percent, and it can obtain an unlimited amount of

capital at that cost. What is the regular IRR (not MIRR) of the better project, that is,

the project that the company should choose if it wants to maximize its stock price?

Group of answer choices

33.69%

31.69%

32.69%

30.69%

29.69%