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A company is analyzing two mutually exclusive projects, S and L, with the following cash...

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Finance

A company is analyzing two mutually exclusive projects, S and L, with the following cash flows:

0 1 2 3 4
Project S -$1,000 $876.48 $250 $5 $10
Project L -$1,000 $5 $240 $400 $819.77

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.

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