Capital budgeting criteria WACC 11.00% 0 -$300 1 -$387 2 -9193 3 $100 4 $800 5 $800 6 $850 Project A 7 -$180 Project B -$400 S134 S134 $134 $134 $134 $134 SO Formulas Project NPV Calculations: NPVA #N/A NPV, #N/A Project IRR Calculations: IRRA #N/A IRRE #N/A Project MIRR Calculations: MIRRA #N/A Alternatively, MIRR, can be calculated as: 4 0 -$300 1 -9387 2 -9193 5 5 $800 6 $850 $600 Project A -$100 7 -$180 PV of Year 1 Outflow PV of Year 2 Outflow PV of Year 3 Outflow PV of Year 7 Outflow Formulas #N/A #N/A #N/A #N/A Formulas #N/A #NA #N/A FV of Year 6 Inflow at Year 7 FV of Year 5 Inflow at Year 7 FV of Year 4 Inflow at Year 7 Sum of Outflow PVs #N/A #N/A Sum of Inflow FVs Formulas N PV PMT FV VYR = MIRRA 7 S0.00 0 $0.00 #N/A MIRRS #N/A Alternatively, MIRRg can be calculated as