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A project generates annual cash flows of $3,000,000 each year for three years and costs $6,000,000. There will be a $1,000,000 cash outflow in year

A project generates annual cash flows of $3,000,000 each year for three years and costs $6,000,000. There will be a $1,000,000 cash outflow in year 4. What is the Modified IRR for the project if the discount rate is 12.00%?

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