4. Raj and Co. intends to invest `10 lakh in a project having a life of 4 years. The Cash Inflows from the project at the end of year one to the fourth year are expected as `3,00,000,

`4,20,000, `4,00,000 and `3,30,000 before charging depreciation and tax. You are required to calculate the Accounting Rate of Return of the project and comment on the use of the rate of return.