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Project L requires an initial outlay at t = 0 of $51,271, its expected cash inflows are $9,000 per year for 10 years, and its WACC is 13%. What is the project's IRR? Round your answer to two decimal places. Project L requires an initial outlay at t = 0 of $45,000, its expected cash inflows are $9,000 per year for 6 years, and its WACC is 10%. What is the project's payback? Round your answer to two decimal places. years