1. Taylor Technologies has a capital structure of 40% debt and 60% equity. The equity will be financed with Retained Earnings. The bonds have a yield to maturity of 10%. The companys beta is 1.1, the risk-free rate is 6% and the market risk premium is 5%, and the tax rate is 30%. The company is considering a project with the following cash flows:

	Project X
Year	Cash Flows
0	($50,000)
1	35,000
2	43,000
3	60,000
4	(40,000)

Determine the MIRR of the project.

Answer: What difference would there be between the MIRR and the IRR when analyzing this project?