Jill Sander Inc. is considering a capital expansion project. The initial investment of undertaking this project is $105,500. This expansion project will last for five years. The net operating cash flows from the expansion project at the end of year 1, 2, 3, 4 and 5 are estimated to be $22,500, $25,800, $33,000, $45,936 and $58,500 respectively. Jill Sander's cost of capital is 24%. Question 1 What is the modified internal rate of return if Jill Sander undertakes this project? Assuming that the positive cash inflow from undertaking this project will be reinvested at the cost of capital 18.99% 24% 20.55% 19.17% Hide Feedback