Problem Walk$-$Through

A company is analyzing two mutually exclusive projects, $S$ and $L,$ with

the following cash flows:

The company's WACC is $9\mathrm{.}0\%.$ 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.

$\%$