Question: Project L requires an initial outlay at t = 0 of $ 7 4 , 8 6 4 , its expected cash inflows are $

Project L requires an initial outlay at t =0 of $74,864, its
expected cash inflows are $13,000 per year for 9 years, and its
WACC is 10%. What is the project's IRR? Round your answer to two
decimal places.

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