Question: 1. Problem 11.03 (MIRR) eBook Problem Walk Through Project requires an initial outlayatto $40,000, is expected cash flow are $10,000 per year for 9 years,

 1. Problem 11.03 (MIRR) eBook Problem Walk Through Project requires an

1. Problem 11.03 (MIRR) eBook Problem Walk Through Project requires an initial outlayatto $40,000, is expected cash flow are $10,000 per year for 9 years, and its WACC 9%. What is the project's MERR? Do not found intermediate calculations. Round your answer to two decimal places

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