The expected average rate of return for a proposed investment of $5,220,000 in a fixed asset, using straight-line depreciation, with a useful life of 20 years, no residual value, and an expected total net income of $15,660,000 over the 20 years is (round to two decimal points).

a. 60.00%

b. 1.50%

c. 30.00%

d. 15.00%