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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 2 3 1 4 I Projects -$1,000 $895.52 $240

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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 2 3 1 4 I Projects -$1,000 $895.52 $240 $10 $5 Project L -$1,000 $5 $250 $400 $761.91 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. %

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