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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 2 3 0 4 Projects -$1,000 $884.99 $240 $10

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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 2 3 0 4 Projects -$1,000 $884.99 $240 $10 $10 Project -$1,000 $0 $240 $380 $864.36 The company's WACC IS 9.0%. 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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