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Find the modified internal rate of return (MIRR) for the following series of future cash flows if the company is able to reinvest cash flows received from the project at an annual rate of 13.18 percent.The initial outlay is $435,100.
Year 1: $188,400
Year 2: $186,600
Year 3: $173,000
Year 4: $177,300
Year 5: $161,600
Round the answer to two decimal places in percentage form.