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Project L costs $49,620.81, its expected cash inflows are $12,000 per year for 8 years, and its WACC is 13%. What is the project's IRR?

Project L costs $49,620.81, its expected cash inflows are $12,000 per year for 8 years, and its WACC is 13%. What is the project's IRR? Round your answer to two decimal places.

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