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A firm is considering two mutually exclusive projects, X and Y, with the following cash flows: D 3 $320 Project -$1,000 $110 $370 $750 Project

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A firm is considering two mutually exclusive projects, X and Y, with the following cash flows: D 3 $320 Project -$1,000 $110 $370 $750 Project Y -$1,000 $900 $110 $55 555 The projects are equally risky, and their WACC is 11%. What is the MERR of the project that maximizes shareholder value? Do not round intermediate calculations. Round your answer to two decimal places

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