The modified internal rate of return method of capital budgeting was developed to overcome shortfalls in the net present value method.

Name: The modified internal rate of return method of capital budgeting was developed to overcome shortfalls in the net present value method.
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The modified internal rate of return (MIRR) method was developed to address the limitations of the traditional internal rate of return (IRR) method, not the net present value (NPV) method.

The Modified Internal Rate of Return Method of Capital Budgeting