Questions A9-A13 are based on the following information Two projects have the same time to maturity of 5 years. The projects are mutually exclusive Start-up costs are $20,000 for project (S) and $35,000 for project (1). Cost of capital is 10% for each project. Project (S) erstes canh lows of $7.500 per year for 5 years. Project (L) generates cash flows of $9,500 per year for 5 years. AIO. What is the IRR for Project S (a) 19.68% (b) 17.86% (c) 22.11% (d) 25.41% C 8.87% a b