A new machine will cost $30,000 and is expected to produce income of $7,000 in year 1, $9,000 in year 2, $12,000 in year 3 and $15,000 in year 4. The company will depreciate the equipment fully using the straight-line method over the same four year period. What is the average accounting return (ARR) of the project?

35.83%

b.

46.66%

c.

71.66%

d.

143%