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A project is expected to have annual cash flows of $22,400, $13,600 and -$4,200 for Years 1 to 3, respectively. The initial cash outlay is
A project is expected to have annual cash flows of $22,400, $13,600 and -$4,200 for Years 1 to 3, respectively. The initial cash outlay is $27,500 and the discount rate is 12 percent. What is the modified IRR?
| a | 13.12% |
| b | 13.22% |
| c | 2.73% |
| d | 8.67% |
| e | 9.75% |
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