QUESTION 3 For the nonconventional net cash flow series shown, the external rate of return per year using the MIRR method, with an investment rate of 20% per year and a borrowing rate of 8% per year,...

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Extracted text: QUESTION 3 For the nonconventional net cash flow series shown, the external rate of return per year using the MIRR method, with an investment rate of 20% per year and a borrowing rate of 8% per year, is closest to: Year 1 2 3 4 NCF, $ -40,000 +16,767 -29,000 +25,000 +53,519