A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 1 2 3 4 + Projects $1,000 $882.00 $250 $5 $10 Project $1,000 $0 $250 $380 $806.50 The company's WACC is 8.5%. 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