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Problem 1 1 . 1 2 ( IRR and NPV ) eBook A company is analyzing two mutually exclusive projects, S and L , with

Problem 11.12(IRR and NPV)
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A company is analyzing two mutually exclusive projects, S and L, with the following cash flows:
The company's WACC is 8.0%. What is the IRR of the better project? (Hint: The better project may or may not be the one with the higher IRR.) Round your answer to two decimal places.
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