1. IRR AND NPV

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

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Project S	-$1,000	$903.12	$240	$5	$10
Project L	-$1,000	$5	$240	$400	$831.49

The company's WACC is 8.0%. 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.

2. MIRR

A firm is considering two mutually exclusive projects, X and Y, with the following cash flows:

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Project X	-$1,000	$100	$320	$370	$700
Project Y	-$1,000	$1,100	$100	$50	$55

The projects are equally risky, and their WACC is 8%. What is the MIRR of the project that maximizes shareholder value? Round your answer to two decimal places. Do not round your intermediate calculations.