Consider the expansion of a production line that will cost $600,000 up front (i.e., today, t = 0). The production line will be depreciated using a 5-year straight-line schedule. At the end of Year 5, the used equipment will have no value. The new line will generate earnings according to the schedule below. What is the Average Accounting Return (AAR) of the new production facility? Assume a tax rate of 35.0%. Round answer to to decimal places, i.e., 0.12.

Year 01 Earnings = $24,500

Year 02 Earnings = $26,000

Year 03 Earnings = $27,250

Year 04 Earnings = $28,050

Year 05 Earnings = $28,200