A new project has an initial cost of $220,000. 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 $12,950, $17,400, $19,520, $14,850, and $11,300, respectively. What is the average accounting return? Multiple Choice 13.82% 12.67% 9.85% 5.88% 14.81%