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 ($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	$ 14,000
2	11,000
3	9,000

What is the modified internal rate of return?