Your company is considering a project with an initial outlay of $10,000 in year zero and the following cash flows over the next 4 years:

Year	Cash flow
1	2,000
2	3,000
3	4,000
4	5,000

Assuming cost of capital is 11%:

1) The project's Modified Internal Rate of Return is:

		12.24%
		12.50%
		0%
		11%
		13.00%