Moncton Motors Inc. has recently bought an asset costing $725,000. The asset assumes a useful of 4-year,
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Moncton Motors Inc. has recently bought an asset costing $725,000. The asset assumes a useful of 4-year, $70,000 salvage value, and is depreciated on a straight-line method. It is reported that the company posted net income of $20,000, $25,500, $20,000, and $21,000 over the last four years.
Calculate the company's average accounting return over the past four years based on the information given above (Show all necessary calculations.)
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