38. Problem 11.12 Click here to read the eBook: Net Present Value (NPV) Click here to read the eBook: Internal Rate of Return (IRR) Problem Walk-Through IRR AND NPV A company is analyzing two mutually exclusive projects, S and L, with the following cash flows: 4 Project S $1,000 $885.39 $250 $10 $10 Project L -$1,000 10 $260 $420 $735.71 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