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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 1 2 3 4 +

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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 1 2 3 4 + + Projects $1,000 $891.08 $240 $5 510 Project -$1,000 $0 $240 $420 $827.93 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. 40

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