Solo Corp. is evaluating a project with the following cash flows:

Year Cash Flow

0 RM 47,000

1 RM 16,900

2 RM20,300

3 RM25,800

4 RM19,600

5 RM9,500

The company uses a discount rate of 11 percent and a reinvestment rate of 8 percent on all of its projects.

(i) Calculate the MIRR of the project using the reinvestment approach.

(ii) Calculate the MIRR of the project using the combination approach.