Martin is analyzing a project and has gathered the following data. Based on this data, what is the average accounting rate of return? The firm depreciates its assets using straight-line depreciation to a zero book value over the life of the asset.

Year	Cash Flow	Net Income
0	-720,000	n/a
1	170,000	9,500
2	240,000	79,500
3	205,000	44,500
4	195,000	34,500