Grey Fox Aviation Company is analyzing a project that requires an initial investment of $3,225,000. The project's expected cash flows are: Year Cash Flo Year $350,000 Year 2 -150,000 Year 3 450,000 Year 4 400,000 Grey Fox Aviation 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). 14.14% 14.97% 15.80% O-20.42% If Grey Fox Aviation Company's managers select projects based on the MIRR criterion, they should independent project. this 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 less than its MIRR O A typical firm's IRR will be greater than its MIRR