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 12.90 percent.The initial outlay is $340,000.

Year 1: $192,400

Year 2: $139,000

Year 3: $190,300

Year 4: $188,900

Year 5: $162,100