Youre trying to determine whether to expand your business by building a new manufacturing plant. The plant has an installation cost of $12 million, which will be depreciated straight-line to zero over its four-year life. If the plant has projected net income of $1,858,500, $1,911,800, $1,880,200, and $1,333,700 over these four years, what is the projects average accounting return (AAR)? (Round the final answer to 2 decimal places.)

Average accounting return %