Question 2 (a) Solo Corp. is evaluating a project with the following cash flows: Year 0 1 2 Cash Flow -RM 47,000 RM 16,900 RM20,300 RM25,800 RM19,600 - RM9,500 3 4 5 The company uses a discount rate of 11 percent and a reinvestment rate of 8 percent on all of its projects. (i) Calculate the MIRR of the project using the reinvestment approach. (ii) Calculate the MIRR of the project using the combination approach. (b) Bill plans to open a self-serve grooming center in a storefront. The grooming equipment will cost RM325,000, to be paid immediately. Bill expects after-tax cash inflows of RM67,000 annually for 7 years, after which he plans to scrap the equipment and retire to the beaches of Nevis. The first cash inflow occurs at the end of the first year. Assume the required return is 13 percent. What is the project's profitability index (PI)