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A mining company plans to mine a beach for rutile. To do so will cost $15 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 $15 million up front and then produce cash flows of $8 million per year for five years. At the end of the sixth year the company will incur shut-down and clean-up costs of $7 million. If the cost of capital is 12.5%, then what is the MIRR for this project? O A. 20.94% OB. 18.85% O c. 23.04% OD. 14.66%

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