Average accounting return. A firm is considering a three-year project. It is believed that the first year’s sales will be $21,000 and that this number will increase by $2,000 (over each previous year) in each of the remaining two years. Costs are estimated to be 46% of sales, and depreciation will be

$3,000 each year, based upon straight-line depreciation. The firm’s tax rate is 21%. The project has a NINV of $24,000; what is the project’s AAR?