A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 1 2 Project S - $1,000 $893.74 $240 $15 $15 Project L - $1,000 $5 $260 $380 $819.40 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