Q$13.$The director of the capital budgeting for Giant Inc. has identified two mutually exclusive projects, L and S$,$ with the following expected net cash flows:

Year Project L Project S

$0-$$$100-$$$100$

$11070$

$26050$

$38020$

Both projects have a cost of capital of $12$ percent. What is Project L$\text{'}$s IRR?

$19\mathrm{.}7\%$

$18\mathrm{.}1\%$

$21\mathrm{.}4\%$

$23\mathrm{.}6\%$

$24\mathrm{.}2\%$