10. Z Ltd. is considering a project which requires an initial investment of `1,60,000 and a further investment of `40,000 at the end of first year. The project has an effective life of 5 years. The project is likely to generate cash flow of `1,00,000 at the end of second year and `80,000, `60,000 and `60,000 at the end of third, fourth and fifth year respectively.

The cost of Capital is 10%. Calculate the MIRR.