1. A project whose initial cash outlay is $ 106,925 and required rate of return of 12% has the following cash flows: (use excel and show formula)

Year	Cash flows
1	55,770
2	42,195
3	28,145
4	9,830

Required:

1. Compute the projects Discounted Payback.
2. What is the projects Net Present Value (NPV)?
3. Assuming that the cash flows from the project are reinvested at the rate of 15%, calculate the Projects Modified Internal Rate of Return (MIRR).