Mooradian Corporation estimates that its weighted average cost of capital is 14.2 percent. The company is considering two mutually exclusive projects whose after-tax cash flows are as follows:

Year Project S CF Project L CF

0 ($3,263) ($4,546)

1 $1,403 $3,896

2 $2,806 $2,373

3 $3,304 $2,041

4 $977 ($961)

What is the modified internal rate of return (MIRR) of the project with the highest NPV?

Should this project be accepted?

Group of answer choices

30.93%; No

31.93%; No

33.93%; Yes

35.93%; Yes

32.93%; No