Question: A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: $15 0 1 2 3 4 1 + Projects

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: $15 0 1 2 3 4 1 + Projects -$1,000 $873.58 $260 $10 Project L -$1,000 $10 $250 $420 $756.27 The company's WACC is 8.5%. 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. %

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