Los Angeles Lumber Company (LALC) is considering a project with a cost of $1,000 at Year 0 and inflows of $300 at the end of Years 1-5. LALC's cost of capital is 10 percent. What is the project's modified IRR (MIRR)?
A. 10.04%
B. 12.87%
C. 15.23%
D. 18.34%
E. 20.72%
Answer: B
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