Grey Fox Aviation Company is analyzing a project that requires an initial investment of $400,000. The project's expected cash flows are: Year Cash Flow Year 1 $275,000 Year 2 -200,000 Year 3 500,000 ear4 400,000 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): 22.49% 23.61% 25.86% 24.74% If Grey Fox Aviation Company's managers select projects based on the MIRR criterion, they should this independent project reject accept