Joanna is adding a new dress line at a cost of $8.5 million. The firm expects the project to generate cash flows of $2 million, $3 million, $4 million, and 5 million over the next 4 years. Its cost of capital is 16%. what is the MIRR (Modified Internal Rate of Return) for this project?

Group of answer choices

17.31%

15.36%

17.56%

18.56%

PLEASE EXPLAIN HOW TO SOLVE THIS!