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8. Cash flow patterns and the modified rate of return calculation Aa Aa Savory Seafood Inc. is analyzing a project with the following cash flows Year Cash Flow 0 $1,600,000 $350,000 $550,000 $660,000 $440,000 2 4 This project has cash flows nonnormal normal Savory Seafood Inc.'s WACC is 6.50%. Calculate this project's modified internal rate of return (MIRR). o 6.16% O 16.98% 6.50% 8.16% Savory Seafood Inc.'s managers select projects based only on the MIRR criterion. Should Savory Seafood Inc.'s managers accept this independent project? O No O Yes