Miller and Sons is evaluating a project with the following cash flows:
Year ______________Cash flow
0..............................-$68,000
1...................................8,400
2.................................19,900
3.................................43,800
4.................................13,500
5.................................-4,200
The company uses a 10 percent interest rate on all of its projects. What is the MIRR of the project using the reinvestment approach? The discounting approach? The combination approach?
8.46 percent; 7.29 percent; 8.59 percent
8.46 percent; 7.38 percent; 8.61 percent
8.54 percent; 7.29 percent; 8.61 percent
8.54 percent; 7.38 percent; 8.59 percent
8.54 percent; 8.23 percent; 8.61 percent