A project has an average book value of $22,000 and a four year life. The projected net income from the project is $1,500, $1,800, $1,900, and $2,000 a year for the next four years, respectively. What is the average accounting return?

a 4.09 percent

b 6.82 percent

c 8.18 percent

d 8.64 percent

e 9.09 percent