Problem $10-03($MIRR$)$

MIRR places.

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7. Problem 10-03 (MIRR) eBook MIRR A project has an initial cost of $55,000, expected net cash Inflows of $14,000 per year for 8 years, and a cost of capital of 8%. What is the project's MIRR? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to two decimal places.