​(MIRR)  Star Industries owns and operates landfills for severalmunicipalities throughout the Midwestern part of the U.S. Startypically contracts with the municipality to provide landfillservices for a period of 20 years. The firm then constructs a linedlandfill​ (required by federal​ law) that has capacity for fiveyears. The ​$9.6 million expenditure required to construct the newlandfill results in negative cash flows at the end of years​ 5, 10,and 15. This change in sign on the stream of cash flows over the​20-year contract period introduces the potential for multiple​IRRs, so​ Star's management has decided to use the MIRR to evaluatenew landfill investment contracts. The annual cash inflows to Starbegin in year 1 and extend through year 20 are estimated to equal​$3.5 million​ (this does not reflect the cost of constructing thelandfills every five​ years). Star uses a 10.4​% discount rate toevaluate its new​ projects, so it plans to discount all theconstruction costs every five years back to year 0 using this ratebefore calculating the MIRR.
a.What are the​ project's NPV,​ IRR, and​ MIRR?
b.Is this a good investment opportunity for Star​ Industries?Why or why​ not?
