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RAK Corp. is evaluating a project with the following cash flows: Year Cash Flow 0 $ 29,200 1 11,400 2 14,100 3 16,000 4 13,100

RAK Corp. is evaluating a project with the following cash flows: Year Cash Flow

0 $ 29,200

1 11,400

2 14,100

3 16,000

4 13,100

5 9,600

The company uses an interest rate of 9 percent on all of its projects.

Calculate the MIRR of the project using the discounting approach.

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