A project has an initial cost of 66300 expected net cash inf
A project has an initial cost of $66,300, expected net cash inflows of $13,000 per year for 9 years, and a cost of capital of 10%. What is the project\'s MIRR? Do not round intermediate calculations. Round your answer to two decimal places.
Solution
Amount investment 66300 Less: Present value of inflows Annual Inflows 13000 Annuity present value of 1.15% for 9 yrs 5.1031 66340 Net present value 40 Hence, IRR of the project is 13.15%