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2. What are the implications of mutually exclusive projects; would you characterise the electric and gas-fired kilns as mutually exclusive; why or why not?

2. What are the implications of mutually exclusive projects; would you characterise the electric and gas-fired kilns as mutually exclusive; why or why not? 3. [4 marks] What is the appropriate cost of capital to use for discounting expected future cash flows? [4 marks]

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