Required information Use the following information for the Quick Study below. {The following information applies to the questions displayed below) Project A requires a $340,000 initial investment for new machinery with a five-year life and a salvage value of $45,500. The company uses straight-line depreciation. Project A is expected to yield annual net income of $29,000 per year for the next five years. QS 11-5 Payback period LO P1. Compute Project A's payback period. Choose Numerator: Cost of investment 340.000 Payback Period 1 Choose Denominator: Annual net cash flow - Payback Period Payback period Required information Use the following information for the Quick Study below. The following information applies to the questions displayed below.] Project A requires a $340,000 initial investment for new machinery with a five-year life and a salvage value of $45,500 The company uses straight-line depreciation Project A is expected to yield annual net income of $29,000 per year for the next five years. QS 11-6 Accounting rate of return LO P2 Compute Project A's accounting rate of return Choose Numerator: Annual after-tax net income 29.000 Accounting Rate of Return Choose Denominator: 'Annual average Investment Accounting Rate of Return Accounting rate of return 5