Caldo Professional Movers is considering purchasing some new equipment costing $210,000. The equipment will be depreciated on a straight line basis to a zero book value over the four-year life of the project. Projected net income for the four years is $7,200, $11,300, $14,100, and $20,000. What is the average accounting rate of return?

12.52 percent

16.70 percent

18.39 percent

21.24 percent

25.05 percent