Fuzzy Button Clothing Company is analyzing a project that requires an initial investment of $$450,000.$ The project$$s expected cash flows are:

Year

Cash Flow

Year $1$ $$300,000$

Year $2200,000$

Year $3400,000$

Year $4425,000$

Fuzzy Button Clothing Company$$s WACC is $9\%,$ and the project has the same risk as the firm$$s average project. Calculate this project$$s modified internal rate of return $($MIRR$)$:

$19\mathrm{.}23\%$

$15\mathrm{.}38\%$

$17\mathrm{.}31\%$

$23\mathrm{.}08\%$