Question

Consider the following cash flow schedule: YearCash Flow0 $-109,5501

$ 73,650

2 $113,250

3 $95,950

4 $-136,800

If the required return is 10.9%, what is the modified IRR for this schedule using the discounting approach? Answer is 18.64% please show all work so I can figure out where I am going wrong

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