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A project has an initial cost of $60,000, expected net cash inflows of $12,000 per year for 10 years, and a cost of capital of

A project has an initial cost of $60,000, expected net cash inflows of $12,000 per year for 10 years, and a cost of capital of 13%. What is the project's MIRR? (Hint: Begin by constructing a timeline.) Do not round intermediate calculations. Round your answer to two decimal places.

=(12,000[(1/0.13)-(1/0.13)*(1+0.13)10)]

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