Question: Celestial Crane Cosmetics is analyzing a project that requires an initial investment of $450,000. The project's expected cash flows are: Year Year 1 Year 2

Celestial Crane Cosmetics is analyzing a project that requires an initial investment of $450,000. The project's expected cash flows are: Year Year 1 Year 2 Year 3 Cash Flow $275,000 -125,000 425,000 Year 4 450,000 Celestial Crane Cosmetics's WACC is 9%, and the project has the same risk as the firm's average project. Calculate this project's modified internal rate of return (MIRR): 22.97% 24.12% 19.52% 18.38% this independent project. If Celestial Crane Cosmetics's managers select projects based on the MIRR criterion, they should

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