Bernsteins proposed project has an initial cost of $128,600 and cash flows of $64,500, $98,300, and $15,500 for Years 1 to 3 respectively. If the discount rate and the reinvestment rate are 10 percent, will you accept the project based on the modified internal rate of return (MIRR)?

A) Indifferent, because MIRR = 10 percent, which is equal to r.

B) No, because MIRR = 9.9 percent, which is less than r.

C) Yes, because MIRR = 10.04 percent, which is greater than r.

D) No, because MIRR = 9.64 percent, which is less than r.

E) Cannot make a decision because there will be multiple MIRRs.