12. Problem 11.12 (IRR and NPV) eBook B Problem Walk-Through A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 1 2 3 4 $10 Projects -$1,000 $900.45 $240 $15 $5 Project L -$1,000 $240 $380 $877.79 The company's WACC is 9.5%. 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. %