Question: You are evaluating a potential new project. The initial cost associated with this project is $695,000. The project has an expected life of 7 years.

You are evaluating a potential new project. The initial cost associated with this project is $695,000. The project has an expected life of 7 years. The estimated cash flows for this project in years 1 through 7 are: Year 1: $95,000 Year 2: $115,000 Year 3: $175,000 Year 4: $240,000 Year 5: $300,000 Year 6: $275,000 Year 7: $180,000 What is the MIRR of this project, using a reinvestment rate of 9%? Solve WITHOUT excel

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