Question: Lewis Enterprises is considering a project with an internal rate of return (IRR) of 12.0%, an annual rate of return (ARR) of 18.0%, and a

Lewis Enterprises is considering a project with an internal rate of return (IRR) of 12.0%, an annual rate of return (ARR) of 18.0%, and a 5-year useful life. The initial cost of the project is $180,000 with a $7,200 salvage value. Lewis uses straight-line depreciation. What is the annual net income of the project? Select answer from the options below $11,232 $16,848 $10,368 $15,552

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