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

Problem 11.12 (IRR and NPV) Question 17 of 20 Check My Work (3 remaining) eBook Problem Walk-Through A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 1 2 34 Project S - $1,000 $870.73 $260 $15 $5 Project L - $1,000 $5 $250 $380 $865.53 The company's WACC is 10.5%. 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. % Check My Work (3 remaining) 0-Icon Key