Ch $11$: End$-$of$-$Chapter Problems$-$LPK $-$ The Basics of Capital Budgeting

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$3.$ Problem $11\mathrm{.}03($MIRR$)$

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Project $L$ requires an initial outlay at $t=0$ of $$75,000,$ its expected cash inflows are $$11,000$ per year for $9$ years, and its WACC is $13\%.$ What is the project's MIRR? Do not round intermediate calculations. Round your answer to two decimal places.

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