Drinkable Water Systems is analyzing a project with projected cash inflows of $137,400, $189,300, and -$25,000 for years 1 to 3, respectively. The project costs $236,000 and has been assigned a discount rate of 14 percent. Should this project be accepted based on the discounting approach to the modified internal rate of return? Why or why not?

A. Yes; The MIRR is 13.48 percent.

B. Yes; The MIRR is 17.85 percent.

C. Yes; The MIRR is 11.23 percent.

D. No; The MIRR is 13.48 percent.

E. No; The MIRR is 17.85 percent.

**I know that the answer is B, can you just explain how you got it. I used excel and got 15.98%% :()