4. Problem 11.12 (IRR and NPV) ER 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 Projects -$1,000 $870.17 $260 $10 $ 5 Project L -$1,000 $10 $240 $420 $808.97 The company's WACC is 10.0%. 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. %