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Projects X and Y are two mutually exclusive projects with normal cash flows. IRR of Project X is 10.71%. IRR of Project Y is 12.24%.

Projects X and Y are two mutually exclusive projects with normal cash flows. IRR of Project X is 10.71%. IRR of Project Y is 12.24%. Crossover rate for these two project is 10.16%. If WACC is 9%, which project should be selected?

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