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

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A mining company plans to mine a beach for rutile. To do so will cost $16 milion up front and then peofuce 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 11%, then what is the MiRR for this project? A. 70% B. 110% C. 90% D. 100%

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