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A. Project L costs $56,693.85, its expected cash inflows are $13,000 per year for 9 years, and its WACC is 12%. What is the project's

A. Project L costs $56,693.85, its expected cash inflows are $13,000 per year for 9 years, and its WACC is 12%. What is the project's IRR? Round your answer to two decimal places.

B. A company is analyzing two mutually exclusive projects, S and L, with the following cash flows:

0 1 2 3 4
Project S -$1,000 $906.31 $240 $10 $5
Project L -$1,000 $0 $260 $420 $745.01

The company's WACC is 9.0%. 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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