6c -4

Find the modified internal rate of return (MIRR) for the following series of future cash flows if the company is able to reinvest cash flows received from the project at an annual rate of 11.59 percent.The initial outlay is $449,600.

Year 1: $178,200

Year 2: $167,600

Year 3: $154,300

Year 4: $141,700

Year 5: $137,900

Round the answer to two decimal places in percentage form. (Write the percentage sign in the "units" box) EXCEL IS FINE