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Bonnie has the opportunity to purchase a large Victorian home for $668,810. She will need to spend additional $125,452 to renovate and convert to a

Bonnie has the opportunity to purchase a large Victorian home for $668,810. She will need to spend additional $125,452 to renovate and convert to a bed and breakfast. She estimates the following after tax cashflows. Year 6 cashflow includes the terminal value of the venture. What is the Modified Internal Rate of Return (MIRR) of the venture if Bonnie's cost of capital is 10% (round to 2 decimal places).

year 1 - 81,765

year 2 - 101,495

year 3 - 114,396

year 4 - 133,632

year 5 - 148,731

year 6 - 1,051,026

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