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A company is analyzing two mutually exclusive projects, Sand, with the following cash flows: 0 2 3 4 Projects -$1,000 $885.48 $260 $5 $15 Project

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A company is analyzing two mutually exclusive projects, Sand, with the following cash flows: 0 2 3 4 Projects -$1,000 $885.48 $260 $5 $15 Project L -$1,000 $10 $240 $380 $812.43 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

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