Your firm is considering two mutually exclusive projects. The net cash inflows of the two projects are as follows:

Year Project A Project B

0 -4900 -3,500

1 1000 800

2 900 2,100

3 3200 1,500

4 -1800 300

5 -600 1,200

6 4500 2,000

Due to conflicting results from NPV and IRR, you decide to calculate the MIRR. The appropriate discount rate for your company is 10%. The MIRR for Project A is ________ . (Please note: if the answer is 12.2% please write 12.2 in the box below. Other formats will not be graded)