Problem:
A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: A company is analyzing two mutually exclusive projects, S and L, with the following cash flows:..... 0 1 2 3 4 Respectively/..... Project S -$1,000 $875.10 $260 $10 $5 Project L -$1,000 $0 $260 $400 $771.81 ...... The company's WACC is 8.0%.
Requirement:
Question: What is the IRR of the better project?
Note: Please show guided help with steps and answer.