Pique Corporation wants to purchase a new machine for $294,000. Management predicts that the machine can produce sales of $203,000 each year for the next 4 years. Expenses are expected to include direct materials, direct labor, and factory overhead (excluding depreciation) totaling $68,000 per year. The firm uses straight-line depreciation with no residual value for all depreciable assets, Pique's combined income tax rate is 20%. Management requires a minimum after-tax rate of return of 9% on all investments Rounded to the nearest whole percentage (e.g., 31.349% = 31%), what is the annual accounting (book) rate of return (ARR) based on the initial investment