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eBook Problem Walk-Through A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 4 o Projects -$1,000 $886.53

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eBook Problem Walk-Through A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 4 o Projects -$1,000 $886.53 $240 $15 $5 Project L -$1,000 $5 $260 $420 $741.72 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. %

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