work #$6$F $($MIRR$)$

Page $2$ of $3$

Question $2(1$ point$)$

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 $12\mathrm{.}99$ percent. What is the MIRR of a project if the initial costs are $$1,445,700$ and the project life is estimated as $9$ years? The project will produce the same after$-$tax cash inflows of $516,500$ per year at the end of the year.

Round the answer to two decimal places in percentage form. $($Write the percentage sign in the "units" box$)$

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