Your company has an opportunity to invest in a project that is expected to result in after-tax cash flows of $6,000 the first year, $8,000 the second year, $11,000 the third year, -$8,000 the fourth year, $18,000 the fifth year, $24,000 the sixth year, $27,000 the seventh year, and -$6,000 the eighth year. The project would cost the firm $44,000. If the firm's cost of capital is 18%, what is the modified internal rate of return?

14.90%

13.33%

15.80%

12.81%

16.63%