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

Project X -

0 1 2 3 4

$1,000 $100 $280 $400 $650

Project Y -

0 1 2 3 4

$1,000 $900 $100 $45 $45

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.