Find the modified internal rate of return for client

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Problem 1: Find the modified internal rate of return (MIRR) for your client for the following series of future cash flows if your client is able to reinvest cash flows received from the investment at an annual rate of 12.83 percent. The initial investment at the beginning of the first year is $403,700.

Year 1: $199,600
Year 2: $123,400
Year 3: $165,900
Year 4: $193,600
Year 5: $138,000

Reference no: EM132951761

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