The modified internal rate of return (MIRR) is the discount rate that forces the "present value of the project's terminal value to equal the present value of its costs (cash outflows)."
MIRR, which is known as Modified Internal Rate of Return, is used to improve IRR (Internal Rate of Return).
Similarly, MIRR is used to classify investments a firm or investor may want to pursue.
MIRR is used to reduce the difficulty of numerous IRRs.
Hence, in this case, it is concluded that the correct answer is option D. "present value of the project's terminal value to equal the present value of its costs (cash outflows)."
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