the answer is not 12 or 13%

A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 2 3 4 Project S - $1,000 $885.82 $250 $15 $5 Project L - $1,000 $0 $250 $400 $847.76 The company's WACC is 8.5%. 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 12 % Hide Feedback Incorrect