A proposed Plant Expansion, with 4 Years Life, has following given Estimates: 1. Initial Investment (CFO) = $ 14.00 m 2. Estimated Net Operating Income (NOI) over the Life of the Project. Using Straight Line Depreciation to a Book Value of Zero is given below: Yr NOI 1 2 $1.25 m $1.94 m $1.74 m $1.31 m 3 4 Based on your Calculations, Average Accounting Return (AAR) isi a. 22.3% ob 12.2% C. 23.8% d. 17.5% O e 15.6%