Payback, NPV, and MIRR

Your division is considering two investment projects, each of which requires an up-front expenditure of $27 million. You estimate that the cost of capital is 10% and that the investments will produce the following after-tax cash flows (in millions of dollars):

Year	Project A		Project B
1	5		20
2	10		10
3	15		8
4	20		6

1. If the cost of capital is 10%, what is the modified IRR (MIRR) of each project? Do not round intermediate calculations. Round your answers to two decimal places.

   Project A: %

   Project B: %