Qualitative documents include:

________ leverage is concerned with the relationship between sales revenues and earnings before interest and taxes

A) Investing B) Operating C) Variable D) Total

A mining company plans to mine a beach for rutile. To do so will cost $14 million up front and then produce cash flows of $7 million per year for five years. At the end of the sixth year the company will incur shut-down and clean-up costs of $6 million

If the cost of capital is 13.0%, then what is the MIRR for this project? A) -60.97% B) -78.39% C) -87.10% D) -95.81%