I know the answer but I don't understand how to work the problem. Please show me step by step. NOT IN EXCEL. We can't use excel. We use a BA II Plus.

What equation are you using?

DYI Construction Co. is considering a new inventory system that will cost $750,000. The system is expected to generate positive cash flows over the next four years in the amounts of $350,000 in year one, $325,000 in year two, $150,000 in year three, and $180,000 in year four. DYI's required rate of return is 8%. What is the modified internal rate of return of this project? Selected Answer: Correct 11.57%

Answers: 10.87%

Correct 11.57%

13.68%

15.13%