Tall Trees, Inc is using the MIRR when evaluating projects. The company is able to reinvest cash flows received from the project at an annual rate of 11.90%. What is the MIRR of a project if the initial costs are $2,182,900 and the project life is estimated as 5 years. The project will produce the same after tax cash inflows of 589,500 per year at the end of the year.