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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 2 1 Project S - $1,000 $886.81 $250 $5

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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 2 1 Project S - $1,000 $886.81 $250 $5 $5 Project L - $1,000 $10 $240 $420 $819.80 The company's WACC is 9.5%. 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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