Clapton Corporation is considering an investment in new equipment costing $934,000. The equipment will be depreciated on a straight-line basis over a ten-year life and is expected to have a residual value of $90,000. The equipment is expected to generate net cash flows of $156,000 for each of the first five years and $138,000 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.) Select one: O A. 12.23% B. 12.86% C. 13.30% D. 8.25%