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A company is analyzing two mutually exclusive projects, 5 and L, with the following cash flows: 0 1 2 3 4 $15 Projects -$1,000 $894.72

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A company is analyzing two mutually exclusive projects, 5 and L, with the following cash flows: 0 1 2 3 4 $15 Projects -$1,000 $894.72 5240 $5 Project - $1,000 55 $260 $380 $784.00 The company's WACC is 8.5%. What is the IRR of the better project? (Hint: The better project may or may not be the one with the higher IRR) Round your answer to two decimal places 96

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