A manufacturing company, Duman Inc., is considering a project with the following cash flows: Year Cash flow 0 1 2 -$100,000 - 40,000 +90,000 +90,000 -10,000 3 4 The project's cost of capital is estimated to be 10 percent. What is the modified internal rate of return (MIRR)? 12.37% 8.43% 11.87% 9.77%