You are considering a project that has the costs and cash flows are shown below:

Year Cash Flow

$0-$$$2,000$

$1800$

$2200$

$3800$

$41,400$

The market cost of borrowing is $13\%.$ Using the investment approach, what will be the modified internal rate of return $($MIRR$)$ and what is your conclusion$--$to accept or reject the project, particularly if the required rate of return is $20\%.$ A timeline may be helpful here.