Homework #6C (IRR and MIRR annually and semi-annually)

Homework #6C (IRR and MIRR annually and semi-annually)

Finance

Question 4 (1 point)

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 13.05 percent.The initial outlay is $423,300.

Year 1: $140,800

Year 2: $133,000

Year 3: $131,900

Year 4: $123,000

Year 5: $145,300

Round the answer to two decimal places in percentage form. (Write the percentage sign in the "units" box)