Question: A firm is considering two mutually exclusive projects, X and Y, with the following cash flows: Project X: CF0= -$1,000, CF1= $110, CF2= $300, CF3=

A firm is considering two mutually exclusive projects, X and Y, with the following cash flows:

Project X: CF0= -$1,000, CF1= $110, CF2= $300, CF3= $370, CF4= $750

Project Y: CF0= -$1,000, CF1= $900, CF2= $110, CF3= $50, CF4= $50

The projects are equally risky, and their WACC is 13%. What is the MIRR of the project that maximizes shareholder value? Round your answer to two decimal places. Do not round your intermediate calculations.

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