Question: Alaska Salmon Inc. A large salmon canning firm operating out of Valdez, Alaska, has a new automated manufacture line project that is under consideration. This project has a cost of USD 2,750,000 and is expected to provide after-tax cash flows of USD 733,060 per year for eight years. ASI’s management is uncomfortable with the IRR reinvestment assumption and prefers the modified IRR approach. You have calculated a cost of capital of 12 percent for ASI. Determine project’s MIRR [modified IRR].