1. Explains how different measures of risk - adjusted performance measures (e.g. Sharpe and Treynor ratios) define the risk s faced in the portfolio and how each measure adjust ed the portfolio’s return perfo rmance for the level of that risk.
2. Project L costs $56,993.01, its expected cash inflows are $11,000 per year for 11 years, and its WACC is 10%. What is the project's IRR? Round your answer to two decimal places.