MiRR unequal thes. Grady Enterprises is looking at two projoct oppontunties for a parcel of land the company currently owns. The first project is a restaurant, and the second peoject is a sports facily. The projected cash fow of the restaurart is an initial cost of $1,530,000 with cash fows over the next six years of 5190,000 (year one). 5280,000(year two), 5280,000 (years three through five), and 51,710,000 (year six), at which point Grody plane to sell the restaurant. The sports faclity has the following cash flowa an intal cost of $2,330,000 with cash fons over the next four years of $390,000 (years one through three) and $2,760.000 (year four), at which point Gracy plans to soll the facity The appropriase discount rate for the restaurant is 9.5% and the appropriete Giscound change the docieion based on the MiRRs? Hint Take al cash flows to the carne ending period as the longect project. If the epprogriate feinvesment fate for the restaurart is 9.5%. what is the Mirct of the restaurant project? (Vourd to two decimal gisces)