The Post Company is considering investing in two alternative projects: Project 1 Project 2 Investment $500,000 $260,000 Useful life (years) 8 Estimated annual net cash inflows for useful life $110,000 $75,000 Residual value $32,000 $16,000 Depreciation method Straight-line Straight-line Required rate of return 13% 9% What is the accounting rate of return for Project 2? (Round any intermediary calculations to the nearest dollar, and round your final answer to the nearest hundredth of a percent, X.XX%.) CE O A. 6.15% OB. 28.85% O c. 48.46% OD. 17.12%