Turner Enterprises is analyzing a project that is expected to have annual cash flows of $46,400, $51,300, and -$15,200 for Years 1 to 3, respectively. The initial cash outlay is $65,900 and the discount rate is 12 percent. What is the modified IRR? Is it A.) 18.66% B.) 17.77% C.) 17.04% D.) 18.13% or E.) 16.98%