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

$01234$

Project S $-$$$1,000$ $$877\mathrm{.}35$ $$260$ $$10$ $$10$

Project L $-$$$1,000$ $$0$ $$260$ $$420$ $$772\mathrm{.}37$

The company's WACC is $10\mathrm{.}5\%.$ 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.