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Project L requires an initial outlay at t=0 of $62,816, its expected cash Inflows are $11,000 per year for 11 years, and its WACC is

Project L requires an initial outlay at t=0 of $62,816, its expected cash Inflows are $11,000 per year for 11 years, and its WACC is 14%. What is the project's IRR? Round your answer to two decimal places. 12.85 %

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