Question: A project requires a $ 2 , 8 5 0 , 0 0 0 initial investment for new machinery with a five - year life

A project requires a $2,850,000 initial investment for new machinery with a five-year life and a salvage value of $310,000. The project is expected to yield annual income of $211,720 per year and net cash flows of $705,000 per year for the next five years. The project's accounting rate of return is:
A project requires a $2,850,000 initial investment for new machinery with

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