ABF's proposed project has an initial cost or $12,500 and cash flows or $64,500, $98,300, and -$15,500 tor Years 1 to 3 respectively. If all negative cash flows are moved to Time 0 at a discount rate of 10 percent, what is the modified internal rate of return?

A. 10.19 percent

B. 0.39 percent

C. 10.3 percent

D. 10.43 percent

E. 11.64 percent