The Caffeine Coffee Company uses the modified internal rate of return. The firm has a cost of capital of 13 percent. The project being analyzed is as follows ($25,000 investment): Use Appendix A and Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Year Cash Flow

1 $11,000

2 $10,000

3 $9,000

What is the modified internal rate of return?

My calculation are not coming out correctly. Can you help?