4. Winston Clinic is evaluating a project that costs $50,000 and has expected net cash inflows of $12,000 per year for eight years. The first inflow occurs one year after the cost outflow, and the project has a cost of capital of 12%. What is the project's MIRR? (hint: remember to put the answer as a percentage). Choice: 13.9% Choice: 14.5% Choice: 5.80% Choice: 22.1% 5. The director of capital budgeting for Big Sky Health System, Inc. has estimated the following cash flows for a new service and has a cost of capital of 10%. What is the project's payback period? Year Annual Cash Flows Project Cost of Capital 0 S (125,000) 10% I S 75,000 2 55,000 3 S 25,000 Choice: 4 years Choice: Not enough information to tell Choice: 1.91 years Choice: 2.4 years 6. The director of capital budgeting for Big Sky Health System, Inc. has estimated the following cash flows for a new service and has a cost of capital of 10%. What is the project's NPV? Annual Cash Project Cost of Year Flows Capital 0 S (125,000) 10% 1 S 75,000 2 55,000 3 S 25,000 Choice: $6,876.20 Choice: $7,419.23 Choice: $8,966.18 Choice: $19,985.00