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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

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 $370 $650
Project Y -$1,000 $900 $110 $45 $55

The projects are equally risky, and their WACC is 12%. What is the MIRR of the project that maximizes shareholder value? Do not round intermediate calculations. Round your answer to two decimal places.

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