Pensky Inc. is considering Projects S and $L,$ whose cash flows are shown below. These projects are mutually exclusive and equally risky. Calculate the MIRR for both projects assuming a WACC of $12\%.$

Which project should Pensky accept and why?

Year: $0$

$1$

$2$

$3$

$4$

$C{F}_s$:$-$$$1,750$$$660$$$475$$$455$$$430$

$C{F}_L$:$,-$$$2,700$$$950$$$875$$$850$$$820$