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# Your company has an opportunity to invest in a project that is expected to result in after-tax cash flows of $22,000 the first year, $24,000 the

Your company has an opportunity to invest in a project that is expected to result in after-tax cash flows of $22,000 the first year, $24,000 the second year, $27,000 the third year, $30,000 the fourth year, $34,000 the fifth year, and $40,000 the sixth year. The project would cost the firm $90,000. If the firm's cost of capital is 12%, what is the modified internal rate of return?