A project has the following annual cash flows (see below) and a WACC of 12%. Calculate the project's MIRR (modified internal rate of return). Select the range that includes the correct answer.

Year 0	Year 1	Year 2	Year 3	Year 4
-$100,000	$30,000	$45,000	$25,000	$50,000

Group of answer choices

A) Less than 15%

B) Greater than or equal to 15%, but less than 16%

C) Greater than or equal to 16%, but less than 17%

D) Greater than or equal to 17%, but less than 18%

E) Greater than or equal to 18%