16. Taylor Technologies has a target capital structure that consists of 40% debt and 60% equity. The equity will be financed with retained earnings. The companys bonds have a yield to maturity of 10%. The companys stock has a beta = 1.1. The risk-free rate is 6%, the market risk premium is 5%, and the tax rate is 30%. The company is considering a project with the following cash flows:

Project A

Year Cash Flow

0 -$50,000

1 35,000

2 43,000

3 60,000

4 -40,000

What is the projects MIRR?