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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 4 0 2 3 + . Projects -$1,000 $893.25

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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 4 0 2 3 + . Projects -$1,000 $893.25 $240 $15 $5 Project L -$1,000 $0 $260 $420 $750.44 The company's WACC is 10.5%. 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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