Your company has an opportunity to invest in a project that is expected to result in after-tax cash flows of $12,000 the first year, $14,000 the second year, $17,000 the third year, -$8,000 the fourth year, $24,000 the fifth year, $30,000 the sixth year, $33,000 the seventh year, and -$6,000 the eighth year. The project would cost the firm $63,800. If the firm's cost of capital is 16%, what is the modified internal rate of return?

	12.97%
	15.37%
	14.50%
	12.47%
	16.18%