1) You have two capital projects projected below. Projects X and Y have the following costs and projected cash flows.

The cost of capital for both projects is 12%.

Project X Project Y

0 ($10,000) ($10,000)

1 $6,500 $3,500

2 $3,000 $3,500

3 $3,000 $3,500

4 $1,000 $3,500

Calculate the MIRR of each project.