The Caffeine Coffee Company uses the modified internal rate of return. The firm has a cost of capital of 10 percent. The project being analyzed is as follows ($40,000 investment): Use Appendix A and...

What's MIRR?

Extracted text: The Caffeine Coffee Company uses the modified internal rate of return. The firm has a cost of capital of 10 percent. The project being analyzed is as follows ($40,000 investment): Use Appendix A and Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods. Year Cash Flow 1 $20,000 18,000 13,000 3 What is the modified internal rate of return? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)