b$)$ Fury FM Sdn Bhd is competing for a contract to provide maintenance services for an

office building. The bid price is RM $4\mathrm{.}3$ million for a two$-$year maintenance period. The

client has agreed to make payments in two instalments, with RM $2\mathrm{.}8$ million due in the

first year and RM $1\mathrm{.}5$ million due in the second year. The estimated maintenance costs

for the current year, first year, and second year are expected to be RM $650,000,$ RM $1\mathrm{.}45$

million, and RM $2\mathrm{.}2$ million, respectively.

i$)$ Based on the detail, using a quadratic equation, calculate the internal rate of return $($IRR$)$

for this project and plot a suitable graph

ii$)$ If the financing rate for this project is $8\%$ and the future value is $3\%,$ determine the

Modified Internal Rate of Return $($MIRR$)$

iii$)$ Advice the company on the decision to bid for the project