A project costs $$325$ MM and has cash flows of $$216$ MM in year $1$ and $$233\mathrm{.}2$ MM in year two. The company's weighted average cost of capital is $8\%.$ What is the project's modified internal rate of return?

$24\mathrm{.}22\%$

$19\mathrm{.}79\%$

$12\mathrm{.}23\%$

$31\mathrm{.}23\%$