2. Problem 11.12 (IRR and NPV) eBook Problem Walk-Through A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 1 2 3 4 $260 $15 Projects -$1,000 $858.06 $10 Project L -$1,000 $10 $260 $380 $780.27 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. %