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

A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 1 2 Project S Project L -$1,000 $890.77 $240 -$1,000 $10 $250 3 $10 $420 4 $15 $747.21 The company's WACC is 8.0%. 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.