Problem 12-21 Modified internal rate of return [LO12-4] 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 ($32,000 investment): Use Appendix A and Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods. Year 1 2 3 Cash Flow $15,000 12,000 10,000 What is the modified internal rate of return? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Internal rate of return