1 Problem Walk-Through Problem 11-12 IRR and NPV 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 $875.53 $250 $10 $10 Project L - $1,000 $5 $250 $380 $790.47 The company's WACC is 9.0%. 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