P$9-19$ MIRR $[$LO$6]$

Solo Corporation is evaluating a project with the following cash flows:

Year Cash Flow

$0$$ $28,000$

$110,200$

$212,900$

$314,800$

$411,900$

$58,400$

The company uses an interest rate of $9$ percent on all of its projects. Calculate the MIRR of the project using all three methods.

a$.$ MIRR using the discounting approach.

b$.$ MIRR using the reinvestment approach.

c$.$ MIRR using the combination approach.