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Project L costs $ 4 8 , 4 2 2 . 3 8 , its expected cash inflows are $ 1 0 , 0 0

Project L costs $

48, 422.38,

its expected cash inflows are $

10, 000

per year for

10

years, and its WACC is

12 % .

What is the project's IRR? Round your answer to two decimal places.

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