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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 Projects - $1,000 $858.66

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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 Projects - $1,000 $858.66 $260 $15 $10 Project L -$1,000 $0 $240 $420 $802.06 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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