The answer to this MIRR is 12.91% but I need to see the work to understand how to get the MIRR with unconventional cash flows
A capital budgeting project with unconventional cash flows
requires an initial investment of $75,000 and a further
investment of $50,000 in year 3. The project will produce cash
flows of $50,000 in years 1 and 2 and $35,000 in years 4 and 5. If
the firm’s cost of capital is 9%, what is the project’s MIRR?
Project MIRR =