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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: Project S Project L The company's WACC is 9.5%.

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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: Project S Project L 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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