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2. Problem 11.02 (IRR) ELE eBook Problem Walk-Through Project L requires an initial outlay at t = 0 of $51,706, its expected cash inflows are

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2. Problem 11.02 (IRR) ELE eBook Problem Walk-Through Project L requires an initial outlay at t = 0 of $51,706, its expected cash inflows are $9,000 per year for 11 years, and its WACC is 12%. What is the project's IRR? Round your answer to two decimal places. %

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