Doak Corp. is evaluating a project with the following cash flows. The company uses a discount rate of 9 percent and a reinvestment rate of 6 percent on all of its projects.
Year
Cash Flow
0
-$16,700
1
7,800
2
9,000
3
8,600
4
7,400
5
-4,800
Calculate the MIRR of the project using all three methods with these interest rates. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
Discounting approach
%
Reinvestment approach
%
Combination approach\10.44:%