A firm with a 13.5 percent cost of capital is considering a project for this years capital budget. The projects expected after-tax cash flows are as follows:

Year:	0	1	2	3	4
Cash flow:	-$12,000	$5,500	$4,700	$4,300	$4,100

Calculate the projects internal rate of return (IRR).

	a.	55.00%
	b.	11.58%
	c.	21.45%
	d.	15.88%
	e.	15.01%

A firm with a 9.5 percent cost of capital is considering a project for this years capital budget. The projects expected after-tax cash flows are as follows:

Year:	0	1	2	3	4
Cash flow:	-$15,000	$5,300	$5,300	$5,100	$6,600

Calculate the projects payback period.

	a.	2.00 years
	b.	2.86 years
	c.	2.14 years
	d.	3.00 years
	e.	2.50 years

A firm with a 9.5 percent cost of capital is considering a project for this years capital budget. The projects expected after-tax cash flows are as follows:

Year:	0	1	2	3	4
Cash flow:	-$15,000	$7,200	$5,300	$6,600	$5,000

Calculate the projects modified internal rate of return (MIRR).

a.

30.00%

b.

12.59%

c.

60.67%

d.

23.34%

e. 16.92%

A firm with a 10.5 percent cost of capital is considering a project for this years capital budget. The projects expected after-tax cash flows are as follows:

Year:	0	1	2	3	4
Cash flow:	-$15,000	$5,100	$5,900	$5,400	$5,600

Calculate the projects discounted payback period.

	a.	4.00 years
	b.	3.59 years
	c.	3.00 years
	d.	3.50 years
	e.	3.41 years