Assume we require an average accounting return of 15%. A project has an initial cost of $165,000 and a 3-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 $13,620, $3,300, and $29,100 a year for the next 3 years, respectively. Do we accept or reject the project, why?

A. Accept, AAR is 18.59 percent

B. Reject, AAR is 11.72 percent

C. Reject, AAR is 21.3 percent D. Accept, AAR is 31.95 percent

E. None of the above