Melloni Construction Company (MCC) is considering a project, which involves purchasing a utility drill. The drill will be used in the road construction division of the company. The price of the drill delivered is $480,000 today (all cost included). The drill is depreciated using the straight-line method over six years (the life of the project) with zero salvage value. The higher efficiency of the drill will reduce the labor cost of the division by $80,000 per year, and the division's revenue will be increased by $110,000 per year for the next six years (the life of the project). MCC tax rate is 27%, and the division's weighted average cost of capital is 14 percent.

Please advise MCC, based on NPV and MIRR, whether to take this project or not. Please show your complete calculations.

Please solve calculating MIRR, not IRR.