You're trying to determine wheather or not to expand your business by building a new manufacturing plant. The plant has a installation cost of $22.6 million, which will be depriciated straight-line to zero over its four-year life.

If the plant has projected net income of $2,015,000, $2,245,000, $2,234,000, and $1,426,000 over these four years, what is the project's average accounting return(AAR)?

(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places)