Problem 12-21 Modified internal rate of return [LO12-4] The Caffeine Coffee Company uses the modified internal rate of return. The firm has a cost of capital of 10 percent. The project being analyzed is as follows ($30,000 investment): Use Appendix A and Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods. Cash Flow Year $16,000 15,000 9,000 1. What is the modified internal rate of return? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Internal rate of return