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

Suppose the Canadian Space Agency has two mutually exclusive projects: landing a person on Mars and landing a person on Venus. Project Mars has an IRR of 12% and project Venus has an IRR of 15%. The crossover rate is 9%. The projects appropriate discount rate is 18%.

Accept project Venus.

Accept both projects.

Accept project Mars.

Accept neither project.

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