1. Your company has an opportunity to invest in a project that is expected to result in after-tax cash flows of $24,000 the first year, $26,000 the second year, $29,000 the third year, $32,000 the fourth year, $36,000 the fifth year, and $42,000 the sixth year. The project would cost the firm $96,000. If the firm's cost of capital is 15%, what is the modified internal rate of return?

	17.29%
	21.06%
	18.33%
	14.87%
	19.53%

2. Determine the internal rate of return for a project that costs $167,000 and would yield after-tax cash flows of $27,000 per year for the first 5 years, $35,000 per year for the next 5 years, and $48,000 per year for the following 5 years.

	14.01%
	14.58%
	16.29%
	17.28%
	18.19%