8. Cash flow patterns and the modified rate of return calculation Aa Aa Purple Turtle Group is analyzing a project with the following cash flaws: Year Cash Flow 0 -$1,220,000 $325,00D $400,000 $480,000 4 $320,000 This projedt has cash flows normal Purple Turtle Group's WACC is 6.50%. Calculate this project's modified internal rate of retum (MIRR). 17.26% 6.63% o 7.29% o 8.29% Purple Turtle Group's managers select projects based only on the MIRR criterion. Should Purple Turtle Group's managers accept this independent project? O Yes O No