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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 Project S -$1,000 $885.14

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

0 1 2 3 4
Project S -$1,000 $885.14 $250 $15 $10
Project L -$1,000 $5 $260 $420 $769.95

The company's WACC is 10.0%. What is the IRR of the better project?

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