Firm ABC is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and not repeatable.

WACC:	8.75%
Year	0	1	2	3	4
CFS	$1,100	375	375	375	375
CFL	$2,200	725	725	725	725

Q1. NPV of project S and project L

Q2. IRR of project S and project L

Q3. MIRR of project S and project L

Q4. If the decision is made by choosing the project with the higher MIRR rather than the one with the higher NPV, how much value will be forgone?