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Suppose the Canadian Space Agency has two mutually exclusive projects: landing a woman on Mars and landing a man on Venus. Project Mars has an

Suppose the Canadian Space Agency has two mutually exclusive projects: landing a woman on Mars and landing a man on Venus. Project Mars has an IRR of 15 percent and project Venus has an IRR of 12 percent. The crossover rate is 9 percent. The projects appropriate discount rate is 8 percent. The Canadian Space Agency should:

Accept neither project.

Accept project Venus.

Accept both projects.

Accept project Mars.

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