Tiberius Manufacturing is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment $10,800,000 $440,000 Useful life 5 years 5 years Estimated annual net cash inflows for 5 years $2,160,000 $99,000 Residual value $60,000 $35,000 Depreciation method Straightline Straightline Required rate of return 14% 13% Calculate the accounting rate of return for Proposal Y. (Round any intermediate calculations and your final answer to two decimal places.)