A project is expected to have annual cash flows of $$36,800,$ $$24,600,$ and $$$$9,200$ for Years $1$ to $3,$ respectively. The initial cash outlay is $$44,500$ and the discount rate is $11$ percent. What is the modified IRR using the discounting approach?

A$.14\mathrm{.}66\%$

B$.13\mathrm{.}97\%$

C$\mathrm{.}12\mathrm{.}73\%$

D$\mathrm{.}18\mathrm{.}67\%$

E$\mathrm{.}15\mathrm{.}70\%$