Find the modified internal rate of return (MIRR) for the following series of future cash flows if the company is able to reinvest cash flows received from the project at an annual rate of 8.98 percent.The initial outlay is $450,300.

Year 1: $171,700

Year 2: $189,300

Year 3: $178,500

Year 4: $146,600

Year 5: $194,400

Round the answer to two decimal places in percentage form.