Question: Mark is using the modified internal rate of return (MIRR) when evaluating investment opportunities. He is able to reinvest cash flows received from the investment

Mark is using the modified internal rate of return (MIRR) when evaluating investment opportunities. He is able to reinvest cash flows received from the investment at an annual rate of 11.27 percent. The investment will produce the same after-tax cash inflows of 497,000 per year at the end of the year for 10 years. What is the MIRR of an investment if the initial costs are $2,025,400? Round the answer to two decimal places in percentage form

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