Miller and Sons is evaluating a project with the following cash flows:

Year Cash Flow

0 -$72,000

1 29,100

2 20,600

3 42,500

4 24,300

5 -9,800

The company uses a 10 percent interest rate on all of its projects. What is the MIRR of the project using the reinvestment approach? The discounting approach? The combination approach?

A. 18.54 percent; 17.29 percent; 14.61 percent

B. 13.96 percent; 14.38 percent; 14.61 percent

C. 18.54 percent; 17.29 percent; 13.67 percent

D. 13.96 percent; 17.85 percent; 13.67 percent

E. 18.54 percent; 18.23 percent; 18.61 percent