Blue Llama Mining Company is analyzing a project that requires an initial investment of $600,000. The project's expected cash flows are Year Cash Flow Year $325,000 Year 2 -150,000 Year 3 475,000 Year 4500,000 Blue Llama Mining Company's WACC is 9%, and the project has the same risk as the firm's average project. Calculate this project's modified internal rate of return (MIRR): a) 14.91%. b) 18.64%. c) 19.57%. d) 20.50%.
