12-5: Modified Internal Rate of Return (MIRR) Problem Walk Through Problem 12-11 MIRR and NPV Your company is considering two mutually exclusive projects, X and Y, whose costs and cash flows are shown below: Year -$5,000 -$5,000 1000 4,500 1500 1500 2000 1000 4000 500 The projects are equally risky, and their cost of capital is 13%. You must make a recommendation, and you must base it on the modified IRR (MIRR). Calculate the two projects' MIRRs. Round your answers to two decimal places. Project X Project Y Which project has the higher MIRR? -Select