Your firm is considering a project that will cost $4.630 million up front, generate cash flows of $3.54 million per year for 3 years, and then have a cleanup and shutdown cost of

$6.03 million in the fourth year.

a. How many IRRs does this project have?

b. Calculate a modified IRR for this project assuming a discount and compounding rate of

10.4%.

c. Using the MIRR and a cost of capital of

10.4%,

would you take the project?