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

Years $01234$

S $-1,10090035010010$

L $-1,1000300550850$

The company's cost of capital is $12$ percent, and it can get an unlimited amount of capital at that cost. What are the MIRRs for these two projects? Which project should the company choose based on MIRR?

Question options:

$($a$)$ MIRR for S is $13\mathrm{.}50\%$ and for L is $13\mathrm{.}76\%.$ The company should choose S$.$

$($b$)$ MIRR for S is $13\mathrm{.}50\%$ and for L is $13\mathrm{.}76\%.$ The company should choose L$.$

$($c$)$ MIRR for S is $16\mathrm{.}43\%$ and for L is $14\mathrm{.}17\%.$ The company should choose L$.$

$($d$)$ MIRR for S is $16\mathrm{.}43\%$ and for L is $14\mathrm{.}17\%.$ The company should choose S