Question: Please solve this by using hand not excel. Problem 3. A company is analyzing two mutually exclusive projects, S and L, with the following cash

Please solve this by using hand not excel.

Please solve this by using hand not excel. Problem 3. A company

Problem 3. A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 4 Projects Project L 0 H -$1,000 -$1,000 1 + $870 $0 2 + $250 $250 3 + $25 $400 $25 $845 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.)

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