In a bargain purchase situation, the IRR will typically be higher than the WACC. Bargain purchases can occur in any industry.

MIRR vs IRR The IRR is a discount rate which is used in capital budgeting to calculate an investment’s profitability. Because it makes the NPV of all cash flows from a project or investment equal to ...

Under capital budgeting, you calculate the WACC for your business and the IRR for the project, and if the IRR is greater than the WACC, it is a profitable project you should pursue.