A company is analyzing two mutually exclusive projects, $S$ and $L,$ with the following cash flows:

Project $S$

Project L

The company's WACC is $8\mathrm{.}0\%.$ 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.

$\%$