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CAPITAL BUDGETING CRITERIA A firm with a 13% WACC is evaluating two projects for this year's capital budget. After-tax cash flows, including depreciation, are as

CAPITAL BUDGETING CRITERIA

A firm with a 13% WACC is evaluating two projects for this year's capital budget. After-tax cash flows, including depreciation, are as follows:

0 1 2 3 4 5
Project M -$15,000 $5,000 $5,000 $5,000 $5,000 $5,000
Project N -$45,000 $14,000 $14,000 $14,000 $14,000 $14,000

Calculate MIRR for each project. Round your answers to two decimal places. Do not round your intermediate calculations. Project M % Project N %

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