A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 2 3 4 - Project S - $1,000 $866.22 $260 $10 $5 O Project L - $1,000 $5 $250 $380 $836.18 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