Turnbull Company Is in the Process of Constructing a New

question 84

Multiple Choice

Turnbull Company is in the process of constructing a new plant at a cost of $30 million. It expects the project to generate cash flows of $13,000,000, $23,000,000, and 29,000,000 over the next three years. The cost of capital is 20 percent. Modified Internal rate of return: What is the MIRR on this project? (Round to the nearest percent.)

• A) 36%
• B) 37%
• C) 38%
• D) 39%

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