A firm is considering two mutually exclusive projects, X and Y, with the following cash flows:
Project X 0 = -$1000
CF1=110 CF2= 300 CF3= 370 CF4= 700
Project Y
CF0= -1000 CF1=1100 CF2= 300 CF3= 50 CF4=50
The projects are equally risky, and their WACC is 13%. What is the MIRR of the project that maximizes shareholder value? Do not round intermediate calculations. Round your answer to two decimal places.
