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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 3 0 1 2 4 Projects -$1,000 $861.07 $260

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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 3 0 1 2 4 Projects -$1,000 $861.07 $260 $15 $15 Project L -$1,000 $10 $250 $400 $775.85 The company's WACC is 10.0%. 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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