the following is a cash flows and a 12% cost of capital. calculate the MIRR assuming a reinvestment rate of 8% (recall that the modified IRR assumes reinvestment is at the cost of capital or another rate rather than the IRR). 0 $ (40,000) 1 10,000 2 10,000 3 11,000 4 17,000 5 12,000 2. Calculate the Profitability Index of the project. The profitability index weights the PV of future cash flows by the initial investment in order to rank projects by return to each dollar invested. Would the project be accepted?