1. Tall Trees, Inc. is using the net present value (NPV) when evaluating projects. You have to find the NPV for the company's project, assuming the company's cost of capital is 9.83 percent. The initial outlay for the project is $331,077. The project will produce the following after-tax cash inflows of

Year 1: 173,717
Year 2: 136,109
Year 3: 115,073
Year 4: 186,776

Round the answer to two decimal places in percentage form.

2. What is the yield to call of a 20 year to maturity bond that pays a coupon rate of 14.22 percent per year, has a $1,000 par value and is currently priced at 1,219? The bond can be called back in 10 years at a call price $1,096. Assume annual coupon payments.

Round answer to two decimal places.

3. Find the modified internal rate of return (MIRR) for the following series of future cash flows if the company is able reinvest the cash flows from the project at an annual rate of 8.76%. The initial outlay is $486,000.

Year 1: $193,000
Year 2: $124,600
Year 3: $140,700
Year 4: $199,400
Year 5: $168,000

Round the answers to two decimal points.