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Happy Frog Inc. is analyzing a project with the following cash flows: Year 0 1 Cash Flow -$711,000 $375,000 -$400,000 $480,000 $320,000 2 3 4

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Happy Frog Inc. is analyzing a project with the following cash flows: Year 0 1 Cash Flow -$711,000 $375,000 -$400,000 $480,000 $320,000 2 3 4 This project has cash flows. Happy Frog Inc.'s WACC is 8.00%. What is this project's modified internal rate of return (MIRR). O 4.60% 0 5.60% O 8.00% O 3.60% Happy Frog Inc.'s managers select projects based only on the MIRR criterion. Should Happy Frog Inc.'s managers accept this independent project? O Yes

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