A company is analyzing two mutually exclusive projects, S and L, with the following cash flows:

0

1

2

3

4

5

Project 1	-$200	$50	$50	$50	$205	$205
Project 2	-$400	$300	$300	$110	$110	$110

The company's WACC is 8.0%. 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.

Project S	-$1,000	$870.54	$260	$10	$5
Project L	-$1,000	$10	$250	$400	$773.12

?%

2) Project L requires an initial outlay at t = 0 of $60,000, its expected cash inflows are $15,000 per year for 9 years, and its WACC is 13%. What is the project's NPV? Do not round intermediate calculations. Round your answer to the nearest cent.

? $