Mooradian Corporation estimates that its weighted average cost of capital is 18.4 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 ($4,803) ($4,165)

1 $4,389 $2,922

2 $3,471 $3,909

3 $2,859 $2,265

4 $3,456 $263

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

41.01%; Yes

40.01%; No

40.01%; Yes

41.01%; No

39.01%; Yes