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

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: %

A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 1 2 3 $10 4 $5 Project S Project L -$1,000 $889.56 $240 -$1,000 $5 $250 $380 $788.65 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.

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