Finance: IRR and MIRR annually and semi-annually
Question
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 13.05 percent. The initial outlay is $423,300.
Year 1: $140,800
Year 2: $133,000
Year 3: $131,900
Year 4: $123,000
Year 5: $145,300