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Marathon Technologies, INC is using the modified internal rate of return MIRR

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Marathon Technologies, 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 8.94 percent. The initial outlay for the project is $405900. Find the MIRR for the company’s project. The project will produce the following after-tax cash inflows of :

Year 1 – 228800
Year 2 – 211900
Year 3 – 159300
Year 4 – 231900

Round the answer to two decimal places in percentage form.

 
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