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Assume that you are evaluating the following capital budgeting project Year Cash flow 0 (10,000) 1 20,000 2 15,000 3 (12,000) 4 22,000 Calculate the

Assume that you are evaluating the following capital budgeting project

Year Cash flow

0 (10,000)

1 20,000

2 15,000

3 (12,000)

4 22,000

Calculate the modified internal rate of return for this project. The firm's cost of capital is 11%.

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