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Patterson Co. is considering a project that has the following cash flows. Its WACC is 10%. Year 0, 1, 2, and 3 Cash flows are

Patterson Co. is considering a project that has the following cash flows. Its WACC is 10%. Year 0, 1, 2, and 3 Cash flows are $950, $500, $400, and $300, respectively.

1. What is the projects payback period?

2. What is the projects IRR?

*Please show work

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