Drinkable Water Systems is analyzing a project with projected cash inflows of $137,400, $189,300, and -$25,00 for years 1 through 3, respectively. The project costs $236,000 and has been assigned a discount rate of 15 percent. Should this project be accepted based on the reinvesting approach to the modified internal rate of return? Why or Why not?

a. yes, the mirr is 16.11%

b. yes, the mirr is 13.48%

c. no, the mirr is 17.85%

d. yes the mirr is 16.63%

e. no the mirr is 13.48%