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A savy business owner who owns several chicken franchises is seeking to add another store to his portfollo of stores. He wants to buy a

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A savy business owner who owns several chicken franchises is seeking to add another store to his portfollo of stores. He wants to buy a store in the Memphis market at a cost of $8.00 million. However, the owner will sell the store to him, BUT he also has to buy a second store in the Oxford market at a cost of $6.00 milion as part of the deal. The Memphis store is doing well, but the Oxford store has cash flow issues. The business owner will have to buy BOTH stores or NONE at all. The owner has a discount rate of 10.00%. The owner will value the opportunities over a flve-year period. What is the rate of return on buying both stores? (HINT: Find IRR of combined projects.) Answer format: Percentage Round to: 2 decimal places (Example: 9.24%,% sign required. Wil accept decimal format rounded to 4 decimal places (exc 0.0924)) Suppose that the projects are contingent, what is the highest financing rate you can afford to accept all 3 prolects

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