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QUESTION
A project costs $22,900 to initiate. It is expected to provide cash flows of $15,900 in Year 1 and $9,900 in Year 2. In Year 3, it will cost the firm...
A project costs $22,900 to initiate. It is expected to provide cash flows of $15,900 in Year 1 and $9,900 in Year 2. In Year 3, it will cost the firm $5,500 to end the project. What is the modified IRR at a discount rate of 14 percent?
-6.79%
-6.67%
10.63%
11.08%
14.00%
Year IRRMIRR Cashflow ($)0($22,900)1$15,900.002$9,900.003($5,500)9%11%