Question: A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 1 2 3 4 Project-$1,000$882.70$240 $5 $15 S

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: 0 1 2 3 4 Project-$1,000$882.70$240 $5 $15 S Project-$1,000 $10 $250$420$753.09 L 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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