Mark is considering investing $90,000 in a project with the following cash revenues and expenses:

Year	Revenues		Cash Expenses & Depreciation
Year 1	$20,000		$15,000
Year 2	$25,000		$20,000
Year 3	$18,000		$15,000
Year 4	$30,000		$10,000
Year 5	$40,000		$10,000

What is the accounting rate of return for the project?

a.7%

b.3%

c.15%

d.14%

e.Cannot be calculated with this information.