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HIRE unequalves. Grady Enterprises is looking attwt: pmjed opportunities for a parcel of land the [Imp-any currently owns. The lst project is a restaurant, and the semnd project is a sports facility. The projected cash ow ofthe restaurant is an initial cost of $1,460,000 with cash ows oyerthe next six years of $220001] {year one). $250,000 [year Mo}, $200,000 [years three through ve}, and $1,740.000 [year six}, atwhid'i point Grady plans to sell the restaurant The sports facily has the following cash ows: initial coetcf $2,420,000 with cash ows overthe nextfour years of $350,000 [years one through three} and $3,260,000 [year [our]. atwhich point Grady plans to sell the facility. The appropriate discount ratefor the restaulant is 11.0% and the appropriate discount rate forthe sports facllty ls 12.5%. what are the MIRRs for the Grady Enterprises projects? What are the MIRRs wl'len you adjustforthe unequal lives? Do the MIRR adjustedfor unequal lives change the decision based on the MIRRs? Hint: Take all cash ows to the same ending period as the longest project. If the appropriate reinvestment rate for the restaurant is 11.0%. what Is the MIR ofthe restaurant project? Del. (Round to two decimal places.) If the approprlale reinvestment rate for Ihe sports facility is 12.5%. what is the MIRR of the sports ladl'rty? Dal. (Round lo two decimal places} Based on the MIRR. Grady should pick the 1 project. (Select from the dmp-down menu.) What Is the MIRR of the restaurant 'wl'len you adjustfor unequal llues? 39:. (Round to two decimal places.) Mist is the MIRR of the sports laciity when you adjust for unequal lilies? 3% (Round to two decimal plans.) Based on the adjusted MIRR, GradyI should pick the '1' project. [Select fromthe dropdown menu.) Does the decislon change? 1!. [Select from the drop-down menu}