mahtomedi Corporation is considering investing in specialized equipment costing $240,000. The equipment has a useful life of 5 years and a residual value of $20,000. Depreciation is calculated using the straight-line method. The expected net cash inflows from the investment are:

Year 1	$60,000
Year 2	$90,000
Year 3	$110,000
Year 4	$40,000
Year 5	$25,000
Total Cash Inflows	$325,000

Mahtomedi Corp.'s required rate of return on investments is 14%

What is the accounting rate of return on the investment?

Please show how you came to the final answer!

Thanks!