Problem 3: For the net cash flow series shown: a) Determine the MIRR manually and using Excel, if the investment rate is 15% per year, and the borrowing rate is 10%. b) Using a MARR of 12%, determine the ERR manually and using Excel.

Problem 3: For the net cash flow series shown: a) Determine the MIRR manually and using Excel, if the investment rate is 15% per year, and the borrowing rate is 10%. b) Using a MARR of 12%, determine the ERR manually and using Excel. Year 0 1 Net Cash Flow, $ +48,000 +20,000 90,000 +50,000 -10,000 2 3 4