Question: Your company is considering two mutually exclusive projects, X and Y, whose costs and cash flows are shown below: Year X Y 0 -5000 -5000

Your company is considering two mutually exclusive projects, X and Y, whose costs and cash flows are shown below:

Year	X	Y
0	-5000	-5000
1	1000	4500
2	1500	1500
3	2000	1000
4	4000	500

The projects are equally risky, and their cost of capital is 13%. You must make a recommendation, and you must base it on the modified IRR (MIRR). Calculate the two projects' MIRRs. Do not round intermediate calculations. Round your answers to two decimal places.

Project X:

Project Y:

Which project has the higher MIRR?

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