Peet's Corp is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $132,625. The equipment will have an initial cost of $470,000 and have a 5 year life. If the salvage value of the equipment is estimated to be $130,000, what is the accounting rate of return? Ignore income taxes.

	29.89%
	13.75%
	28.22%
	11.25%