Homework #6C (IRR and MIRR annually and semi-annually) Finance Question 5(1 poi

Homework #6C (IRR and MIRR annually and semi-annually)
Finance
Question 5 (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 10.66 percent.  What is the MIRR of a project if the initial costs are $2,078,000 and the project life is estimated as 5 years? The project will produce the same after-tax cash inflows of 494,400 per year at the end of the year.
Round the answer to two decimal places in percentage form.

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