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 $1,858,500, 1,911,800, $1,880 200, and S1,333,700 over these four years, what is the project's average accounting return (AAR) in %? (Round the final answer to 2 decimal places.) (omit % sign)