A project has an initial cost of $72,000 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 $2,900, $2,300, $2,700, and $4,500 a year for the next four years, respectively. What is the average accounting return?

35.97 percent

11.61 percent

4.31 percent

8.61 percent

17.22 percent