Final help finance

Question 4

Find the modified internal rate of return (MIRR) for the following series of future cash flows if the company is able to reinvest cash flows received from the project at an annual rate of 14.74 percent. The initial outlay is $398,000. 

Year 1: $164,500

Year 2: $121,300

Year 3: $129,400

Year 4: $176,200

Year 5: $160,300

Round the answer to two decimal places in percentage form. 

Answer

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