Dry-Sand Company is considering investing in a new project. The project will need an initial investment of $1,242,000 and will generate $635,000 (after-tax) cash flows for three years. However, at the end of the fourth year, the project will generate $535,000 of after-tax cash flow due to dismantling costs. Calculate the MIRR (modified internal rate of return) for the project if the cost of capital is 15 percent. The reinvestment rate is 12 percent. Multiple Choice 13.9 percent 9.3 percent 21.7 percent 29.5 percent