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9. MIRR A firm is considering two mutually exclusive projects, X and Y, with the following cash flows: 0 1 2 3 4 + Project

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MIRR A firm is considering two mutually exclusive projects, X and Y, with the following cash flows: 0 1 2 3 4 + Project X -$1,000 $110 $280 $430 $650 Project Y -$1,000 $1,100 $90 $45 $50 The projects are equally risky, and their WACC is 9%. What is the MIRR of the project that maximizes shareholder value? Round your answer to two decimal places. Do not round your intermediate calculations. %

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