considering Projects S and L$,$ whose cash flows are shown below. These projects are mutually

exclusive, equally risky, and not repeatable. If the decision is made by choosing the project with the higher

MIRR rather than the one with the higher NPV$,$ how much value will be forgone? Note that under some

conditions choosing projects on the basis of the MIRR will cause $$0\mathrm{.}00$ value to be lost.

WACC: $9\%$

Year $01234$

CFS $-$$$900$ $$480$ $$480$ $$480$ $$480$

CFL $-$$$2,000$ $$875$ $$875$ $$875$ $$875$