Harwell Printing Co. is considering the purchase of new electronic printing equipment. It would allow Harwell to increase its net income by $53,253 per year. Other information about this proposed project follows:

Initial investment	$	291,000
Useful life		6	years
Salvage value	$	93,000

Assume straight line depreciation method is used.

1. Calculate the accounting rate of return for Harwell. (Round your percentage answer to 1 decimal place.)

4% Accounting Rate of Return