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ACME is evaluating a project with the following cash flows: Year Cash Flow 0 -$68,000 1 8,400 2 19,900 3 43,800 4 13,500 5 -4,200

ACME is evaluating a project with the following cash flows:

Year	Cash Flow
0	-$68,000
1	8,400
2	19,900
3	43,800
4	13,500
5	-4,200

The company uses a 9 percent interest rate on all of its projects. What is the MIRR of the project using the reinvestment approach? The discounting approach? The combination approach? Please use formulas not Excel to understand the process.

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