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Background Information:

The Modified Internal Rate of Return of Project "B" is 10.64%. If Projects "A" and "B" are independent, considering only the MIRR method, which project(s) should Big Company proceed with? Explain your answer. Big Company is evaluating two projects, Project A and Project B. Both projects are of equal risk. Big Company has a WACC of 9%. The expected Free Cash Flows of the projects are as follows: Period Annual Cash Flows Project "A" Annual Cash Flows Project "B" 0 1 ($1,000) 775 275 120 ($1,000) 100 450 745 2 3