Saturn Ltd is considering investing in a new piece of equipment to improve its manufacturing processes. The machine will cost 115,000 and is expected to be used for five years, after which it is expected to be sold for 25,000. It is estimated that the new machine will result in the following operating profits: Year 1: 15,000 Year 2: 25,000 Year 3: 25,000 Year 4: 20,000 Year 5: 30,000 Calculate the accounting rate of return of the machine. Round off your answer to two decimals. Remember to show all your calculations.