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Marathon Technologies, INC is using the modified internal rate of return MIRR when evaluating projects. The company is able to reinvest cash flows received from

Marathon Technologies, INC is using the modified internal rate of return MIRR when evaluating projects. The company is able to reinvest cash flows received from the project at an annual rate of 10.89 percent. The initial outlay for the project is $485,100. Find the MIRR for the company's project. The project will produce the following after-tax cash inflows of :

Year 1 - 140,900

Year 2 - 160,300

Year 3 - 177,000

Year 4 - 294,700

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