Mosaic Tile Company is considering an investment in new equipment costing $870,000. The equipment will be depreciated on a straight line basis over a five-year life and is expected to have a residual value of $70,000. The equipment is expected to generate net cash inflows of $1,004,000 in total during the five-year life. What is the accounting rate of return associated with the equipment investment? (Round your answer to two decimal places.) A. 9.33% B. 13.93% C. 8.68% D. 41.17%