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Your division is considering two investment projects, each of which requires an up-front expenditure of $22 million. Project A will have cash flows of $3 million in year 1, $4 million in year 2, $8 million in year 3, and $18 million in year 4. Project B will have cash flows of $17 million in year 1, $9 million in year 2, $4 million in year 3, and $2 million in year 4.

Assume the projects are independent. The cost of capital is 16%. What is the MIRR of Project A? 0.107 Based on MIRR criteria, do you accept or reject Project A? What is the MIRR of Project B? Based on MIRR criteria, do you accept or reject Project B? | Partial Credit Acceptable answer for BLANK-1 is 14.14% Responses must be an exact match Acceptable answer for BLANK-2 is reject Responses must be an exact match Acceptable answer for BLANK-3 is 19.78% Responses must be an exact match Acceptable answer for BLANK-4 is accept Responses must be an exact match