Youre trying to determine whether or not to expand your business by building a new manufacturing plant. The plant has an installation cost of $23.0 million, which will be depreciated straight-line to zero over its four-year life.

Required:

If the plant has projected net income of $2,035,000, $2,255,000, $2,254,000, and $1,436,000 over these four years, what is the projects average accounting return (AAR)?(Do not round intermediate calculations.Enter your answer as a percentage rounded to2 decimal places (e.g., 32.16).)

Average accounting return

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