1. Project L costs $75,000, its expected cash inflows are $8,000 per year for 8 years, and its WACC is 9%. What is the project's MIRR? Do not round intermediate calculations. Round your answer to two decimal places.

2. Project L costs $45,000, its expected cash inflows are $11,000 per year for 8 years, and its WACC is 8%. What is the project's discounted payback? Do not round intermediate calculations. Round your answer to two decimal places.

3.

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

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Project S	-$1,000	$881.58	$250	$10	$5
Project L	-$1,000	$0	$250	$400	$788.80

The company's WACC is 9.0%. 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.

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