P$9-20$ MIRR $[$LO$6]$

Solo Corporation is evaluating a project with the following cash flows:

Year Cash Flow

$0$$ $12,600$

$15,800$

$26,500$

$36,200$

$45,100$

$54,800$

The company uses a disount rate of $11$ percent and a reinvestment rate of $10$ percent on all of its projects. Calculate the MIRR of the project using all three methods using these interest rates.

a$.$ MIRR using the discounting approach.

b$.$ MIRR using the reinvestment approach.

c$.$ MIRR using the combination approach.

Please include formula and calculator solutions not excel.