Cold Goose Metal Works Inc. is analyzing a project that requires an initial investment of $400,000. The project's expected cash flows. are: Cold Goose Metal Works Inc.s WACC is 9%, and the project has the same risk as the firm's average project. Calculate this project's modified internal rate of return (MIRR): 22.91% 26.18% 24.00% 21.82% If Cold Goose Metal Works Incis managers select profects based on the MIRR criterion, they should this independent project. Which of the following statements best describes the difference between the IPR method and the MIRR method? The IRR method assumes that cash flows are reinvested at a rate of return equal to the IRR. The MIRR method assumes that cash tlows are reinvested at a rate of return equal to the cost of capital. The IRR method uses only cash inflows to calcuiate the IRR. The MIRR method uses both cast infliws and cash outflows to caiculate the MIRR. The IRR mathod uses the present value of the initial investment to calculate the IRR. The MIRR. method uses the terminal vaive of the intial investment to calculate the MIRR