Modified internal rate of return: T

Modified internal rate of return: The IRR is based on the assumption that projects’ cash flows can be reinvested at the IRR itself, and this assumption is usually wrong.The IRR overstates the expected return for accepted projects because cash flows cannot generally be reinvested at the IRR itself.IRR can be modified to make it a better measure of profitability. It is similar to the regular IRR, except it is based on the assumption that cash flows are reinvested at the WACC.
Finding the MIRR:
Calculate PV of all outflows
Estimate the FV of all inflows (terminal value) at WACC
There is some discount rate that will cause the PV of the terminal value to equal the cost. That interest rate is defined as the Modified Internal Rate of Return (MIRR).

Results (English) 1:

Modified internal rate of return: The IR is based on the assumption that projects ' cash flows can be reinvested at the IR itself, and this assumption is usually wrong.The IRR overstates the expected return for accepted projects because cash flows cannot generally be reinvested at the IR itself.IRR can be modified to make it a better measure of profitability. It is similar to the regular IRR, except it is based on the assumption that cash flows are reinvested at the WAC. Finding the MIR: Calculate PV of all outflows Estimate the FV of all inflows (terminal value) at WAC There is some discount rate that will cause the PV of the terminal value to equal the cost. That interest rate is defined as the Modified Internal Rate of Return (MIRR).

Results (English) 3:

调整的内部收益率IRR是基于这样的假设，项目的现金流可以被再投资于收益率本身，这种假设往往是错误的。IRR夸大为接受项目预期收益，因为现金流通常不能被再投资于收益率itself.irr可以被修改以使它更好的盈利能力的措施。它类似于常规的内部收益率，除了它是基于假设现金流以加权平均资金成本。
发现镜子：
计算PV的流出
估计所有流入的FV（终值）在资本
有一定的折现率，将导致终端价值的PV值相等。利率是指修正内部收益率（MIRR）。