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8.14. NPV versus IRR Consider the following cash flows on two mutually exclusive projects for Tomatina Recreation SA. Both projects require an annual return of

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8.14. NPV versus IRR Consider the following cash flows on two mutually exclusive projects for Tomatina Recreation SA. Both projects require an annual return of 15 per cent. As a financial analyst for Tomatina, you are asked the following questions: (a) Calculate the IRR. Which project should you choose? (b) Compute the NPV for both projects. Which project should you choose

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