Grey Fox Aviation Company is analyzing a project that requires an initial investment of $2,500,000. The project's expected cash flows are: Year Year 1 Year 2 Year 3 Year 4 Cash Flow $350,000 -175,000 500,000 500,000 Grey Fox Aviation Company's WACC is 8%, and the project has the same risk as the firm's average project. Calculate this project's modified internal rate of return (MIRR): 24.07% 27.87% 20.27% -13.54% If Grey Fox Aviation Company's managers select projects based on the MIRR criterion, they should Which of the following statements about the relationship between the IRR and the MIRR is correct? A typical firm's IRR will be equal to its MIRR. A typical firm's IRR will be greater than its MIRR. A typical firm's IRR will be less than its MIRR. this independent project