eBook Problem Walk-Through

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

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Project X	-$1,000	$110	$320	$430	$650
Project Y	-$1,000	$1,000	$90	$55	$55

The projects are equally risky, and their WACC is 11%. 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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