Finger Foods wants to upgrade their kitchen appliances at a cost of 264,000 . Their old appliances will be hauled off for scrap metal. The new appliances are expected to have a four year life, use straight line depreciation method, and be hauled off at the end of their useful life. The new appliances are more energy efficient and so are expected to lower costs by 47,000 each year as well as increase production and sales by 65,000 each year. Their working capital is not expected to change much. The required rate of return is 12%. What is the simple/accounting rate of return of this investment (rounded to two decimal places)