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A company is analyzing two mutually exclusive projects, S and L, whose cash flows are shown below: The company's cost of capital is 14 percent,

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A company is analyzing two mutually exclusive projects, S and L, whose cash flows are shown below: The company's cost of capital is 14 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? 20.48% 19.98% 19.48% 18.98% 20.98%

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