22. Please solve in Excel; round to 3 decimal
places
You are trying to decide whether or not to expand Company A by
building a new plant. The plant has an installation cost of $13.5
million, which will be depreciated straight-line to zero over its
four-year life. The projected net income is $1,570,000 in year one,
$1,684,200 in year two, $1,716,300 in year three, and $1,097,400 in
year four.
What is the project's average accounting return (AAR)? Please
solve in Excel