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Crane Bakeries recently purchased equipment at a cost of $657,500. Management expects the equipment to generate cash flows of $343,250 in each of the next

Crane Bakeries recently purchased equipment at a cost of $657,500. Management expects the equipment to generate cash flows of $343,250 in each of the next four years. The cost of capital is 16 percent. What is the MIRR for this project?

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