Question: Problem 11.03 (MIRR) Project L requires an initial outlay at t = 0 of $35,000, its expected cash inflows are $15,000 per year for 9

Problem 11.03 (MIRR)

Project L requires an initial outlay at t = 0 of $35,000, its expected cash inflows are $15,000 per year for 9 years, and its WACC is 14%. What is the project's MIRR? Do not round intermediate calculations. Round your answer to two decimal places.

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