Cash flow patterns and the modified rate of return calculation Blue Elk Manufacturing Inc. is analyzing a project with the following cash flows: This project has ________ cash flows. Blue Elk Manufacturing's WACC is 8.00%. Calculate this project's modified internal rate of return (MIRR). 8.00% 8.82% 10.82% 6.82% Blue Elk Manufacturing's managers select projects based only on the MIRR criterion. Should Blue Elk Manufacturing's managers accept this independent project? Yes No