A firm with a WACC of 10% is considering the following mutually exclusive projects: 1 2 4 5 Project 1 -$200 $80 $80 $80 $235 $235 Project 2 -$500 $300 $300 $105 $105 $105 Which project would you recommend? Select the correct answer a. Neither Project 1 nor 2, since each project's NPV NPV2 c. Project 2, since the NPV2> NPV1. d. Both Projects 1 and 2, since both projects have IRR's > 0 e. Both Projects 1 and 2, since both projects have NPV's > 0. A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 2 3 4 Project S $240 -$1,000 $886.55 $15 $15 $380 Project L -$1,000 $0 $250 $814.33 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