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3. Problem 11.03 (MIRR) eBook Problem Walk-Through Project L requires an initial outlay at t = 0 of $70,000, its expected cash inflows are $10,000

3. Problem 11.03 (MIRR)

eBook Problem Walk-Through

Project L requires an initial outlay at t = 0 of $70,000, its expected cash inflows are $10,000 per year for 9 years, and its WACC is 14%. What is the project's MIRR? Do not round intermediate calculations. Round your answer to two decimal places.

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