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DROP DOWN OPTIONS

1) the project should/ should not be purchased because the MIRR

2) is greater than/ lower than/ equal to the required rate of return

Using a required rate of return equal to 8 percent, compute the modified internal rate of return (MIRR) for a project that costs $62,000 and is expected to generate $28,000, $56,000, and - $10,000, respectively, during the next three years. Should the project be purchased? Do not round intermediate calculations. Round your answer to two decimal places. The project -Select- be purchased because the MIRR, that is %, is -Select- the required rate of return