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Project M has an initial cost of $56,705, and its expected net cash inflows are $13,250 per year for 6 years. The firm has a

Project M has an initial cost of $56,705, and its expected net cash inflows are $13,250 per year for 6 years. The firm has a WACC of 9 percent, and Project Ms risk would be similar to that of the firms existing assets. Calculate Project Ms modified internal rate of return (MIRR).

a.

5.79%

b.

40.20%

c.

9.86%

d.

9.00%

e.

10.60%

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