(Related to Checkpoint 11.6) (MIRR calculation)Emily's Soccer Mania is considering building a new plant. This project would require an initial cash outlay of $8.5 million and would generate annual cash inflows of $3.8 million per year for years one through four. In year five the project will require an investment outlay of $6 million. During years 6 through 10 the project will provide cash inflows of $6 million per year. Calculate the project's MIRR, given a discount rate of 14 percent.

The MIRR of the project with a discount rate of 14% is _______%. (Round to two decimal places.)