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A company is analyzing two mutually exclusive projects, S and L, whose cash flows are shown below: Years 0 1 2 3 4 S

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A company is analyzing two mutually exclusive projects, S and L, whose cash flows are shown below: Years 0 1 2 3 4 S -771 687 440 -87 63 L -1245 1239 204 -60 382 The company's cost of capital is 13.5 percent, and it can obtain an unlimited amount of capital at that cost. What is the regular IRR (not MIRR) of the better project, that is, the project that the company should choose if it wants to maximize its stock price? O 27.18% 25.18% 30.04% O 32.04% O 31.18%

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