Project A has a cost of $1,000, and it will produce end-of-year net cash inflows of $500 per year for 3 years. The project's required rate of return is 10 percent. What is the difference between the project's IRR and its MIRR? (Round off the answer to two decimal places.)
A. 3.88%
B. 4.31%
C. 5.09%
D. 5.75%
E. 6.21%
Answer: C
Business
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