A project has an initial cost of $56,000 and a four-year life. The company uses straight-line depreciation to a book value of zero over the life of the project. The projected net income from the project is $2,100, $1,900, $2,300, and $4,500 a year for the next four years, respectively. What is the average accounting return?
19.29 percent
9.64 percent
43.39 percent
10.37 percent
4.82 percent