A project's IRR is independent of the firm's cost of capital.In other words, a project's IRR doesn't change with a change in the firm's cost of capital.

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The project's IRR is based solely on the project's cash flows and is not affected by the firm's cost of capital. Therefore, changes in the firm's cost of capital will not impact the project's IRR.

A Project's IRR Is Independent of the Firm's Cost of Capital.In