M$11-3($Algo$)$ Calculating Accounting Rate of Return $[$LO $11-1]$

Required:

What is the accounting rate of return for a project that is estimated to yield total income of $$342,000$ over three years and costs $$853,000?$

Note: Round your answer to $2$ decimal places. $($i$.$e$.0\mathrm{.}1234$ should be entered as $12\mathrm{.}34\%.)$

Accounting Rate of Return