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A firm is considering two mutually exclusive projects, X and Y, with the following cash flows: Project X 0 = -$1000 CF1=110 CF2= 300 CF3=

A firm is considering two mutually exclusive projects, X and Y, with the following cash flows:

Project X 0 = -$1000

CF1=110 CF2= 300 CF3= 370 CF4= 700

Project Y

CF0= -1000 CF1=1100 CF2= 300 CF3= 50 CF4=50

The projects are equally risky, and their WACC is 13%. 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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