Taco Rico is considering a new project with an initial cost of $234,500. The equipment will be depreciated on a straight-line basis to a zero book value over the four-year life of the project. The projected net income for each year is $16,000,$19,500, $21,500, and $23,500, respectively. What is the average accounting return?
Round the percentage number to two decimals. E.g ., if the answer is 12.3456%, type 12.35, and not 0.1235