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Project L requires an initial outlay at t = 0 of $ 7 6 , 8 1 6 , its expected cash inflows are $

Project L requires an initial outlay at t

= 0

of $

76, 816,

its expected cash inflows are $

12, 000

per year for

11

years, and its WACC is

13 %

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

.

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