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Which of the following are true statements about the Modified Internal Rate of Return (MIRR)? I. It is not independent of the cost of capital.

Which of the following are true statements about the Modified Internal Rate of Return (MIRR)?

I. It is not independent of the cost of capital.

II. It is used when choosing between mutually exclusive projects.

III. It is determined solely by the project's cash flows and cost.

IV. It is used when there is more than one change of sign in a project's cash flows.

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