Your firm is considering a project that will cost $ $4\mathrm{.}561$ million up$$ front, generate cash flows of $ $3\mathrm{.}51$ million per year for $3$years$,$ and then have a cleanup and shutdown cost of $ $6\mathrm{.}03$ million in the fourth year.

a$.$ How many IRRs does this project$$ have?

b$.$ Calculate a modified IRR for this project assuming a discount and compounding rate of $9\mathrm{.}6\%.$

c$.$ Using the MIRR and a cost of capital of $9\mathrm{.}6\%,$ would you take the$$ project?

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Part $1$

a$.$ How many IRRs does this project$$ have?

The project has

$2$

IRRs.$($Select from the$$ drop$-$down menu.$)$

Part $2$

b$.$ Calculate a modified IRR for this project assuming a discount and compounding rate of $9\mathrm{.}6\%.$

The MIRR for this project is

$$

enter your response here$\%.($Round to two decimal$$ places.$)$