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IRR on Project overall IRR on Increments of Investment Compared With Project Investment A B C D E A ? B 11% ? CDEF

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IRR on Project overall IRR on Increments of Investment Compared With Project Investment A B C D E A ? B 11% ? CDEF 11% 9% 11% 13% 11% 15% 13% 19% 16% 16% 14% 9% 15% 10.5% 14% 13% 11% 9.50%

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