The Martian Corporation, a space vehicle development company, is starting a new division that will develop the next-generation launch missile engine configuration. Use a hand application of the MIRR method to determine the EROR for the estimated net cash flows (in $1000 units) of $-56,000 in year 0, $15,000 in years 1 through 7, and $-8,000 in year 8. Assume a borrowing rate of 9% and an investment rate of 29% per year. The external rate of return is