Question: A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 1 2 3 Project S Project L - $1,000

 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: 1 2 3 Project S Project L - $1,000 $897.60 - $1,000 $10 $240 $260 $ 10 $400 $10 $803.38 The company's WACC is 9.5%. 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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