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An investment requiring an initial cash outlay of $9,600 produces the following end-of-year cash flows over a 6-year holding period: Year 1: $2,200; Year 2:
An investment requiring an initial cash outlay of $9,600 produces the following end-of-year cash flows over a 6-year holding period: Year 1: $2,200; Year 2: $7,000; Year 3:-$3,200; Year 4: $2,000; Year 5: -$2,800; Year 6: $20,000. Calculate the Modified Internal Rate of Return [MIRR] for this investment. Assume a/an 20.00% reinvestment rate and a/an 6.78% finance rate. Enter your answer rounded to four decimal places without the percentage sign (e.g. 1.2345)
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