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The Fitness Center is considering including a treadmill in this year's capital budget. The cash outlay for the treadmill is $1,500. The firm's cost of

The Fitness Center is considering including a treadmill in this year's capital budget. The cash outlay for the treadmill is $1,500. The firm's cost of capital is 8%. After-tax cash flows, including depreciation, are as shown in the following table. Calculate the modified internal rate of return (MIRR) for the project.

End of Year

Cash Flow

1

$490

2

490

3

490

4

490

5

490

The PV of all cash outflows is ___. (Round to the nearest cent.)

The future value of the cash inflows is ____. (Round to the nearest cent.)

The MIRR of the project is ___%. (Round to two decimal places.)

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