Using a required rate of return equal to $12$ percent, compute the modified internal rate of return $($MIRR$)$ for a project that costs $$88,000$ and is expected to generate $$38,000,$ $$76,000,$ and $-$$$12,150,$ respectively, during the next three years. Should the project be purchased? Do not round intermediate calculations. Round your answer to two decimal places.

QUESTION:

The project $\_\_\_\_\_\_\_\_($SHOULD OR SHOULD NOT$)$ be purchased because the MIRR, that is $\_\_\_\_\_\_\_\_\%,$ is $\_\_\_\_\_\_\_\_($greater than, lower than, equal$)$ the required rate of return.