A new project has an initial cost of $215,000. The equipment will be depreciated on a straight-line basis to a zero book value over the five-year life of the project. The projected net income each year is $12,900, $17,300, $19,400, $14,800, and $11,200, respectively. What is the average accounting return?

Multiple Choice

A. 12.89%

B. 10.03%

C. 15.07%

D. 14.07%

E. 5.99%