Oriole Corp. management is expecting a project to generate after-tax income of $68,970 in each of the next three years. The average book value of the projects equipment over that period will be $215,880. If the firms investment decision on any project is based on an ARR of 37.5 percent. (Round answer to 1 decimal place, e.g. 5.2%.) What is the projects accounting rate of return?

Accounting rate of return is ______%