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Project K costs $40,000, its expected cash inflows are $15,000 per year for 8 years, and its WACC is 9%. What is the project's MIRR?

Project K costs $40,000, its expected cash inflows are $15,000 per year for 8 years, and its WACC is 9%. What is the project's MIRR? Round your answer to two decimal places.

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