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5. Problem 11.02 (IRR) eBook Problem Walk-Through Project L requires an initial outlay at t = 0 of $71,097, its expected cash inflows are $13,000

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5. Problem 11.02 (IRR) eBook Problem Walk-Through Project L requires an initial outlay at t = 0 of $71,097, its expected cash inflows are $13,000 per year for 8 years, and its WACC is 10%. What is the project's IRR? Round your answer to two decimal places. %

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