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A firm is considering two mutually exclusive projects, x and Y , with the following cash flows: The projects are equally risky, and their WACC

A firm is considering two mutually exclusive projects,

x

and

Y,

with the following cash flows:

The projects are equally risky, and their WACC is

8 % .

What is the MIRR of the project that maximizes shareholder value? Do not round intermediate calculations. Round your

answer to two decimal places.

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