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1 4 . Suppose two mutually exclusive projects Messi and Ronaldo one could invest in . Both projects would require an initial investment of $

14. Suppose two mutually exclusive projects Messi and Ronaldo one could invest in. Both projects would require an initial investment of $500,000. Project Messi has a one-time cash flow next year of $1,000,000 whereas project Ronaldo is characterized by a cash flow of $150,000 next year. The cash flow will then continue to grow forever at a fixed rate of 2%. The incremental IRR for this project pair comes closest to:

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