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Pettway Inc. is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and not repeatable. a.

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Pettway Inc. is considering Projects S and L, whose cash flows are shown below. These projects are mutually exclusive, equally risky, and not repeatable. a. Calculate the IRR of each project. (Do not need to show your work. Use calculator.) (0.5 point) b. If the decision is made by choosing the project with the higher IRR, how much value will be foregone? (0.5 point )

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