Nokia Group has invested \($8,000\) in a high-tech project. This cost is depreciated on an accelerated basis that yields \($4,000,\) \($2,500,\) \($1,500\) of depreciation, respectively, during its three-year economic life. The project is expected to produce income before tax of \($2,000\) each year during its economic life. If the tax rate is 25%, what is the project’s average accounting return (AAR)?

a. 44.44%

b. 50.23%

c. 66.67%

d. 70.00%

e. 82.21%