11-12 IRR AND NPV A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 1 2 3 4 H + + H Project S -$1,000 Project L -$1,000 $870 $0 $250 $250 $25 $25 $400 $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.)