Question: Project L requires an initial outlay at t = 0 of $ 6 5 , 5 0 7 , its expected cash inflows are $

Project L requires an initial outlay at t =0 of $65,507, its expected cash inflows are $12,000 per year for 10 years, and its WACC is 14%. What is the project's IRR? Round your answer to two decimal places.

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