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For mutually exclusive projects, the IRR can be used to select the best project: a. By calculating the modified internal rate of return b. By

For mutually exclusive projects, the IRR can be used to select the best project:

a. By calculating the modified internal rate of return

b. By calculating the IRR based on incremental cash flows

c. By using the discount rate to calculate the IRR

d. Never. IRR cannot be utilized for mutually exclusive projects.

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