This set of problems is designed to be calculated using the Excel or financial calculator. Do not use financial tables to calculate these problems. Do not use algebraic formulas to calculate these problems. Question 5 (1 point) Tall Trees, Inc. is using the modified internal rate of return (MIRR) when evaluating projects. The company is able to reinvest cash flows received from the project at an annual rate of 8.38 percent. What is the MIRR of a project if the initial costs are $1,653,500 and the project life is estimated as 7 years? The project will produce the same after-tax cash inflows of 621,800 per year at the end of the year. Round the answer to two decimal places in percentage form. (Write the percentage sign in the "units" box) Your Answer: Answer units Next Page Page 5 of 5