Company A is evaluating a potential project. The project needs $400,000 up-front investment and would generate a constant cash inflow, $X per year, for 8 years, with the first cash inflow happening one year from now. Company A currently has a weighted average cost of capital of 10% and it finds the project gives a MIRR of 15%. What is $X?

Answer is given to be $106,997, anyone knows how is the answer derived?