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MIRR and NPV Your company is considering two mutually exclusive projects, X and Y , whose costs and cash flows are shown below: Year X

MIRR and NPV
Your company is considering two mutually exclusive projects, X and Y, whose costs and cash flows are shown below:
Year X Y
0-$5,000-$5,000
11,0004,500
21,5001,500
32,0001,000
44,000500
The projects are equally risky, and their cost of capital is 14%. You must make a recommendation, and you must base it on the modified IRR (MIRR). Calculate the two projects' MIRRs. Do not round intermediate calculations. Round your answers to two decimal places.
Project X:
%
Project Y:
%
Which project has the higher MIRR?
-Select-
has the higher MIRR.

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