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A project requires an investment of $ 6 0 , 0 0 0 today and it will generate after - tax cash flows of $

A project requires an investment of $60,000 today and it will generate after-tax cash flows of $19,000 at the end of year 1,$33,000 at the end of year 2, and $28,000 at the end of year 3. The company's weighted average cost of capital is 9.6% per year. What is the project's annual modified internal rate of return?
12.8%
13.2%
12.3%
13.9%
11.8%
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