Delta Mu Delta is considering purchasing some new equipment costing $$393,000.$ The equipment will be depreciated on a straight$-$line basis to a zero book value over the four$-$year life of the project. Projected net income for the four years is $$16,900,$ $$25,300,$ $$27,700,$ and $$18,400.$ What is the average accounting rate of return?

A$.$

$11\mathrm{.}63$ percent

B$.$

$11\mathrm{.}23$ percent

C$.$

$12\mathrm{.}01$ percent

D$.$

$12\mathrm{.}49$ percent

E$.$

$10\mathrm{.}87$ percent