Bernstein's Proposed Project Has an Initial Cost of $128,600 and Cash

Multiple Choice

Bernstein's proposed project has an initial cost of $128,600 and cash flows of $64,500,$98,300,and −$15,500 for Years 1 to 3 respectively.If all negative cash flows are moved to Time 0 at a discount rate of 10 percent,what is the modified internal rate of return?

A) 10.00 percent
B) 9.82 percent
C) 10.04 percent
D) 9.69 percent
E) 9.97 percent