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'Project L requires an initial outlay at t = 0 of $ 7 5 , 8 6 3 , its expected cash inflows are $

'Project L requires an initial outlay at t=0 of $75,863, its expected cash inflows are $14,000 per year for 9 years, and its WACC is 12%. What is the project's IRR? Round your answer to two decimal places.
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