A company is planning to purchase a machine that will cost $33,600 with a six-year life and no salvage value. The company expects to sell the machine's output of 3,000 units evenly throughout each year. A projected income statement for each year of the asset's life appears below. What is the accounting rate of return for this machine?

Sales				$	103,000
Costs:
Manufacturing	$	51,000
Depreciation on machine		5,600
Selling and administrative expenses		43,000			(99,600	)
Income before taxes				$	3,400
Income tax (35%)					(1,190	)
Net income				$	2,210