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Project P costs $25 million, its expected cash inflows are $5 million in year 1, $10 million in year 2, and $17 million in year

Project P costs $25 million, its expected cash inflows are $5 million in year 1, $10 million in year 2, and $17 million in year 3. If the WACC is 12%, what is the projects IRR? Express your final answer as a percentage rounded to two decimal places.

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