A project has an initial cost of $40,000 and a four-year life. The company uses straight-line depreciation to a book value of zero over the life of the project. The projected net income from the project is $1,200, $2,200, $3,500, and $2,700 a year for the next four years, respectively. What is the average accounting return? 3.55% 4.28% 12.00% 4.13% 7.11%