Project L costs $58,486.59, its expected cash inflows are $12,000 per year for 11 years, and its WACC is 13%. What is the project's IRR? Round your answer to two decimal places. % A firm with a WACC of 10% is considering the following mutually exclusive projects: 0 1 3 4 5 $45 $235 $115 Project 1 -$300 $45 $45 $235 Project 2 -$550 $300 $300 $115 $115 Which project would you recommend? Select the correct answer. a. Project 2, since the NPV2 > NPV1. b. Both Projects 1 and 2, since both projects have IRR's > 0. c. Neither Project 1 nor 2, since each project's NPV NPV2. e. Both Projects 1 and 2, since both projects have NPV's > 0