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

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Project S	-$1,000	$896.72	$240	$5	$5
Project L	-$1,000	$5	$250	$380	$789.11

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.

Would love it if you could explain what you are doing in the steps. I am very confused about the IIR. Thank you!