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Projects X and Y are equally risky, mutually exclusive, and have normal cash flows. Project X has an IRR of 16%, while Project Y's IRR

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Projects X and Y are equally risky, mutually exclusive, and have normal cash flows. Project X has an IRR of 16%, while Project Y's IRR is 14%. The two projects have the same NPV when the cost of capital is 11%. Which of the following statements is CORRECT? A) If the cost of capital is 10%, Project X will have the higher NPV. B) If the cost of capital is 13%, Project X will have the lower NPV. C) If the cost of capital is 18%, both projects will have a negative NPV. D) Project X's NPV is more sensitive to changes in cost of capital than Project Y's. E) The crossover rate between the two projects must be between 14% and 16%

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