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Kellog's is thinking about introducing a new cereal brand. Marketing and development of the brand will cost 1 5 . 5 million dollars today. In

Kellog's is thinking about introducing a new cereal brand. Marketing and development of the brand will cost 15.5 million dollars today. In year 1 & 2, the new cereal will generate 5 million dollars in cash. In years 3 & 4, the new cereal will generate 6 million dollars in cash. Kellog's reinvestment rate is 8%. What is the MIRR of this project?

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