Mass Company Is Investing in a Giant Crane

Multiple Choice

Mass Company is investing in a giant crane. It is expected to cost 6.6 million in initial investment and it is expected to generate an end of year cash flow of 3.0 million each year for three years. Calculate the MIRR for the project if the cost of capital is 12% APR.

A) 17.3%
B) 15.3%
C) 23.8%
D) 22.1%