A project has an initial capital investment of $420,000, and a four-year life, at the end of which it will be fully depreciated to zero. The forecasted incremental net income after tax from the project is $14,200, $18,600, $16,300, and $20,000, respectively, for each of the next four years. What is the average accounting return (AAR) for this project?

• A. 4.1%
• B. 8.2%
• C. 9.9%
• D. 16.4%