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A firm is considering two mutually exclusive projects, X and Y, with the following cash flows:

0 1 2 3 4
Project X -$1,000 $110 $320 $370 $750
Project Y -$1,000 $900 $100 $55 $45
The projects are equally risky, and their WACC is 10%. What is the MIRR of the project that maximizes shareholder value? Do not round intermediate calculations. Round your answer to two decimal places.


Sagot :