Question: Turner Enterprises is analyzing a project that is expected to have annual cash flows of $77400, $21,300 and -$6,200 for years 1 to 3, respectively.

Turner Enterprises is analyzing a project that is expected to have annual cash flows of $77400, $21,300 and -$6,200 for years 1 to 3, respectively. The initial cash outlay is $84,900 and the discount rate is 11 percent. What is the modified IRR?

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