Problem 12-21 Modified internal rate of return (L012-4] The Caffeine Coffee Company uses the modified internal rate of retum. The film has a cost of capital of 10 percent. The project being analyzed is as follows ($34.000 investment) Use Arpendix A and Arpendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods. Year Cash Flow $18,000 1 2 3 13,000 12,000 What is the modified internal rate of retur? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Internal rate of return