Your company is considering two mutually exclusive project projects, X and Y, whose cost and cash flow are shown below:
Year x Y
0 (1,000) (1,000)
1 100 1000
2 300 100
3 400 50
4 700 50
The projects are equally risky, and their cost of capital is 12%. You must make a recommendation, and you must base it on the modified IRR(MIRR). What is the MIRR of better project