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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 1 2 3 4 Project S -$1,000 $876.89

A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 1 2 3 4 Project S -$1,000 $876.89 $250 $10 $15 Project L -$1,000 $5 $240 $380 $825.85 The company's WACC is 8.5%. What is the IRR of the better project?

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