Clapton Corporation is considering an investment in new equipment costing $ 924 comma 000$924,000. The equipment will be depreciated on a straight-line basis over a ten-year life and is expected to have a residual value of $ 94 comma 000$94,000. The equipment is expected to generate net cash flows of $ 156 comma 000$156,000 for each of the first five years and $ 104 comma 000$104,000 for each of the last five years. What is the accounting rate of return associated with the equipment investment? (Round your answer to two decimal places.)