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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows:
3
Project S
-$1,000 $898.52
$240
$10
$15
Project L
-$1,000
$10
$240
$420
$780.63
The company's WACC is 10.5%. 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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Subject: Business, Finance

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