Pluto Corporation is considering an investment that will cost $210,000 and last for three years. The investment will be amortized on a straight-line basis over that period. Earnings generated by the investment before amortization and taxes over this period are as follows:

Year 1........................$ 110,000
Year 2 ... . .. . .. .. .. .. . .120,000
Year 3...........................150,000
Pluto Corporation has a tax rate of 25 percent. What is the AAR of this project?