Key Lock Co. wants to determine if they should expand their business into more locations. Total initial costs are $12.5 million, as recorded in the financial statement, which will be depreciated straight-line to 0 over a four- year life. If the projected net income from the project is $1,368,000, $1,935,000, $1,738,000, and $1,310,000 over the four years, what is the projects average accounting return (AAR)?