A. Project L costs $56,693.85, its expected cash inflows are $13,000 per year for 9 years, and its WACC is 12%. What is the project's IRR? Round your answer to two decimal places.

B. 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	$906.31	$240	$10	$5
Project L	-$1,000	$0	$260	$420	$745.01

The company's WACC is 9.0%. 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.