A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: Project S - $1,000 $870.39 $250 $15 $10 Project L - $1,000 $0 $260 $380 $834.87 The company's WACC is 10.5%. 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