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

$01234$

Project S$-$$$1,000$$$893\mathrm{.}96$$$250$$$5$$$15$Project L$-$$$1,000$$$0$$$240$$$380$$$862\mathrm{.}46$

The company's WACC is $10\mathrm{.}0\%.$ 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.

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