A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 0 1 2 3 4 Project S $1,000 $886.53 $240 $15 Project L $1,000 $10 $260 $380 $784.81 The company's WACC is 9.5%, 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. $5