Question: Please show all work and explain each step. DO NOT use Excel. Project COUGAR requires an initial investment of $1,000. The estimated cash flows to

Please show all work and explain each step. DO NOT use Excel.
Please show all work and explain each step. DO NOT use Excel.

Project COUGAR requires an initial investment of $1,000. The estimated cash flows to be generated by this project over the next four years are $500,$700,$200, and $100, respectively. If the weighted average cost of capital (WACC) is 11%, calculate the modified IRR for this project

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