Tall Trees, Inc. is using the modified internal rate of return (MIRR) when evaluating projects. The company is able to reinvest cash flows received from the project at an annual rate of 8.04 percent. What is the MIRR of a project if the initial cost are $1,907,300 and the project life is estimated as 6 years? The project will produce the same after-tax cash inflows of 565,400 per year a the end of the year.