A mining company plans to mine a beach for rutile. To do so will cost $16 million up front and then produce cash flows of $9 million per year for five years. At the end of the sixth year the company will incur shutdown and cleanup costs of $8 million. If the cost of capital is 13%, then what is the MIRR for this project?

a -90%

b -70%

c -100%

d -110%