A project requires an investment of $10,000 today and it will generate after-tax cash flows of $3,000 at the end of year 1, $5,000 at the end of year 2, and $8,000 at the end of year 3. The company's weighted average cost of capital is 12.6% per year. What is the project's annual modified internal rate of return? 1) 20.4% 2) 22.3% 3) 19.2% 4) 21.8% 5) 18.4%