Alyeska Salmon Inc., a large salmon canning firm operating out of Valdez, Alaska, has a new automated production line project it is considering. The project has a cost of $367,000 and is expected to provide after-tax annual cash flows of $86,300 for eight years. The firm's management is uncomfortable with the IRR reinvestment assumption and prefers the modified IRR approach. You have calculated a cost of capital for the firm of 12 percent. What is the project's MIRR? Use the percentage form without the % sign, and round it to one decimal place, e.g., 13.1