DYI Construction Co. is considering a new inventory system that will cost $750,000. The system is expected to generate positive cash flows over the next four years in the amounts of $350,000 in year one, $325,000 in year two, $150,000 in year three, and $180,000 in year four. DYI's required rate of return is 11%. What is the modified internal rate of return of this project?

		10.87%
		13.06%
		14.35%
		11.57%