Practice Problem $9-3$

Using a required rate of return equal to $10$ percent, compute the modified internal rate of return $($MIRR$)$ for a project that costs $$88,000$ and is expected to generate $$35,000,$$$70,000,$ and $$10,050,$ respectively, during the next three years. Should the project be purchased? Do not round intermediate calculations. Round your answer t two decimal places.

The project be purchased because the MIRR, that is $\%,$ is the required rate of return.