15) Auto Detailers is buying some new equipment where the average book value of this equipment during its life will be $100,000. The equipment is expected to generate net income of $11,000 a year for the first four years and $24,000 a year for the last four years. What is the average accounting rate of return?

A) 17.5 percent B) 16.2 percent C) 11.8 percent D) 20.8 percent E) 17.9 percent