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MIRR A project has an initial cost of $ 7 5 , 0 0 0 , expected net cash inflows of $ 1 5 ,

MIRR
A project has an initial cost of $75,000, expected net cash inflows of $15,000 per year for 11 years, and a cost of capital of 11%. What is the project's MIRR? (Hint: Begin by constructing a time line.) Do not rou intermediate calculations. Round your answer to two decimal places.
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