Problem:
Turnbull Corp. is in the process of constructing a new plant at a cost of $30 million. It expects the project to generate cash flows of $13,000,000, $23,000,000, and 29,000,000 over the next three years. The cost of capital is 20 percent.
Required:
Question: What is the MIRR on this Project?
A) 36%
B) 37%
C) 38%
D) 39%
Note: Please answer in proper manner and show all computations