A flood control project with a life of 16 years will require an investment of ​$55,000 and annual maintenance costs of ​$6,000. The project will provide no benefits for the first two years but will save ​$26,000 per year in flood damage starting in the third year. The appropriate MARR is 12​% per year. What is the modified​ B-C ratio for the flood control​ project?