TL Lumber is evaluating a project with cash flows of $12,800, $7,400, $11,600, and $3,200 for Years 0 to 3, respectively. Given an interest rate of 8 percent, what is the MIRR using the discounted approach?

Multiple Choice

• 13.25 percent

• 14.08 percent

• 15.40 percent

• 14.36 percent

• 19.23 percent