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Modified internal rate of return on the project

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Your firm is considering a new project. The project has a cost of $57,450. The project is expected to generate free cash flows of $29,350 in year 1, $20,275 in year 2, $23,150 in year 3, and $26,875 in year 4. The project's required rate of return is 10.40% and the reinvestment rate is 9.70%. What is the modified internal rate of return on the project?

Reference no: EM132696192

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