Below are the estimated cash flows for two mutually exclusive projects for a company. The company has a WACC of 12%.

Cash flows in M $

year / project a / project b

0 /$(45,000.00) /$(12,000.00)

1 /$ 2,000.00 / $2,000.00

2 / $ 5,000.00 / $2,000.00

3/ $12,000.00 / $3,000.00

4 /$27,000.00 / $ 5,000.00

5 / $30,000 / $8,000.00

Use the data from the second scenario to answer this question.

IRR for project is 14.18 %

NPV of project is 3,494.84

Use the data from the second scenario to answer this question.

What is the MIRR for project A? Use the WACC as both the finance rate and the reinvestment rate.

	A.	13.69%
	B.	14.89%
	C.	14.18%
	D.	15.17%