The expected average rate of return for a proposed investment of $748,000 in a fixed asset, with a useful life of 4 years, straight-line depreciation, no residual value, and an expected total net income of $383,000 for the 4 years, is (round to two decimal points).

a. 12.80%

b. 25.60%

c. 51.20%

d. 13.90%