Harrah's Inc. is analyzing a project estimated to provide the following net cash flows. (assume a weighted average cost of capital of 12%)

CF₀: -$120,000,000

CF₁: +$56,000,000

CF₂: +$56,000,000

CF₃: +$56,000,000

CF₄: +$56,000,000

What is the internal rate of return (IRR) of the project?

Group of answer choices

29.57%

45.83%

21.66%

30.65%

22.21%

What is the modified internal rate of return (MIRR) of the project?

Group of answer choices

21.66%

45.83%

22.21%

30.65%

29.57%