Yellow Day has a project with the following cash flows:

Year Cash Flows

$0$$ $25,500$

$19,800$

$214,300$

$38,820$

$42,850$

What is the MIRR for this project using the reinvestment approach? The interest rate is $8$ percent.

Multiple Choice

$8\mathrm{.}78\%$

$8\mathrm{.}14\%$

$9\mathrm{.}77\%$

$7\mathrm{.}31\%$

$9\mathrm{.}50\%$