Question: Mark is using the modified internal rate of return (MIRR) when evaluating investment opportunities. He is able to reinvest cash flows received from the investment

Mark is using the modified internal rate of return (MIRR) when evaluating investment opportunities. He is able to reinvest cash flows received from the investment at an annual rate of 12.41 percent. The investment will produce the same after-tax cash inflows of 601,900 per year at the end of the year for 8 years. What is the MIRR of an investment if the initial costs are $1,437,300?

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