Celestial Crane Cosmetics is analyzing a project that requires an initial Investment of $600,000. The project's expected cash flows are: Year Cash Flow Year 1 $375,000 Year 2 Year 3 - 175,000 450,000 500,000 Year 4 Celestial Crane Cosmetics' WACC IS 8%, and the project has the same risk as the firm's average project. Calculate this project's modified Internal rate of return (MIRR) 20.80% 18:09 19.90% 15.38% If Celestial Crane Cosmetics managers select projects based on the MIRA criterion, they should this independent project Which of the following statements best describes the difference between the tra method and the MTRR method The TBR method uses only cash inflows to calculate the TRT MIRR method uses both cash inflows and cash outflows to calculate the MIRR The IRR method is the present value of the initial investment to calculate the IRR. The MERR method uses the terminal value of the Inibal investment to calculate the MIRR The IRR method assumes that cash flows are reinvested at a rate of return equal to the IRR The MIRR method assumes that cash flows are reinvested at a rate of retum equal to the cost of capital the same risk as the firm's average project. Calculate this project's modified internal rate this independent project. s based on the MIRR criterion, they should reject thod difference between the IRR method and the accept calculate the IRR. The MIRR method uses bol Irows and cash outflows to calculate the of the initial investment to calculate the IRR. The MIRR method uses the terminal value of the nows are reinvested at a rate of return equal to the IRR The MIRR method assumes that cash flows ual to the cost of capital Il > F10 ** F F8 F2 FS F6