A project has an initial cost of $55,000, expected net cash inflows of $12,000 per year for 8 years, and a cost of capital of 13%. What is the project's MIRR? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to two decimal places.

A project has an initial cost of $55,000, expected net cash inflows of $10,000 per year for 11 years, and a cost of capital of 12%. What is the project's IRR? Round your answer to two decimal places.