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X has a five-year life and an initial cost of $40,000 and annual cash flows of $12,500 per year. Project Y also has a five-year

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X has a five-year life and an initial cost of $40,000 and annual cash flows of $12,500 per year. Project Y also has a five-year life and itial cost of $50,000 with annual cash flows of $15,500 per year. The projects are mutually exclusive. At what discount rate would you idifferent about accepting either project? Multiple Choice 1203% 1293% 13.46%

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