Cold Goose Metal Works Inc. is analyzing a project that requires an initial investment of $$550,000.$ The project$$s expected cash flows are:

Year

Cash Flow

Year $1$ $$275,000$

Year $2100,000$

Year $3475,000$

Year $4425,000$ Cold Goose Metal Works Inc.$$s WACC is $8\%,$ and the project has the same risk as the firm$$s average project. Calculate this project$$s modified internal rate of return $($MIRR$)$:

$18\mathrm{.}26\%$

$20\mathrm{.}18\%$

$16\mathrm{.}34\%$

$19\mathrm{.}22\%$