Modified internal rate of return of future cash flows
Course:- Financial Management
Reference No.:- EM13933744

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Find the modified internal rate of return (MIRR) for the following series of future cash flows if the company is able to reinvest cash flows received from the project at an annual rate of 8.87 percent. The initial outlay is $306,000

Year 1: $131,900

Year 2: $143,500

Year 3: $126,500

Year 4: $134,600

Year 5: $173,300

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