Dunder Mifflin Paper Company is considering purchasing a new stamping machine that costs $500,000. This new machine will produce cash inflows of $300,000 each year at the end of years 1 through 5, then at the end of year 7 there will be a cash outflow of $150,000. The company has a weighted average cost of capital of 15 percent (use this as the reinvestment rate). What is the MIRR of the investment? The MIRR of the investment is %. (Round to two decimal places.)