Your company is considering two mutually exclusive projects, X and Y$.$ Both project has an initial cost of $$2,000$ and expected useful life of $4$ years. The cash flow generated by project X is $$200,$ $$600,$ $$800,$ $$1400.$ The cash flow generated by Project Y is $$2,000,$ $$200,$ $$100,$ $$100.$

The projects are equally risky, and their cost of capital is $10\%.$ You must make a recommendation, and you must base it on the modified IRR. What is the MIRR of the better project?

Group of answer choices

$11\mathrm{.}50\%$

$12\mathrm{.}00\%$

$11\mathrm{.}70\%$

$12\mathrm{.}50\%$

$13\mathrm{.}10\%$