Options are X or Y for "select"

MIRR and NPV Your company is considering two mutually exclusive projects, X and Y, whose costs and cash flows are shown below: Year 0 -$5,000 1,000 -$5,000 4,500 1 2 1,500 1,500 3 2,000 1,000 4 4,000 500 The projects are equally risky, and their cost of capital is 11%. 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