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You're trying to determine whether to expand your business by building a new manufacturing plant. The plant has an installation cost of $ 1 2

You're 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 $1,859,700, $1,913,000,$1,881,400, and $1,334,900 over these four years, what is the project's average accounting return (AAR)?(Round the final answer to 2 decimal places.)
Average accounting return
%
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