Question: 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

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

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 $901.38 $250 $5 Project L $1,000 $10 $250 $380 $5 $838.95 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. %

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