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A mining company plans to mine a beach for rutile. To do so will cost $16 million up front and then produce cash flows of

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A mining company plans to mine a beach for rutile. To do so will cost $16 million up front and then produce cash flows of $9 million per year for five years. At the end of the sixth year the company will incur shut - down and clean - up costs of $8 million. If the cost of capital is 12%, then what is the MIRR for this project? A. 110% B. 90% C. 100% D. 70%

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