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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 2 3 4 Project S -$1,000 $861.29 $260 $15

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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 2 3 4 Project S -$1,000 $861.29 $260 $15 $10 Project L $1,000 $5 $250 $420 $737.01 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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