Capitol city transfer company is considering building a new terminal that will require expenditures of $1 million immediately (at t = 0) and another $1 million at the end of year 1 (t = 1). it will then receive net cash flows of $0.5 million at the end of years 2-5, and it expects to sell the property and net $1 million at the end of year 6. all cash inflows and outflows are after taxes. the company's wacc is 12%, and it uses the mirr criterion for capital budgeting decisions. what is the project's mirr?

a. 11.5%
b. 11.9%
c. 11.4%
d. 12.0%
e. 11.7%