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A mining company plans to mine a beach for rutile. To do so will cost...

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Finance

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A mining company plans to mine a beach for rutile. To do so will cost $12 million up front and then produce cash flows of $5 million per year for five years. At the end of the sixth year the company will incur shut-down and clean - up costs of $4 million. If the cost of capital is 14%, then what is the MIRR for this project? A. 100% B. 90% C. 110% D. 70%

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