A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 1 4 2 % 3 -$1,000 $874.60 $260 $10 $5 Project S Project L -$1,000 $0 $240 $380 $858.66 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