Required information Use the following information for the Quick Study below. (The following information applies to the questions displayed below.) Project A requires a $440,000 initial investment for new machinery with a five-year life and a salvage value of $30,000. The company uses straight-line depreciation. Project A is expected to yield annual net income of $24,400 per year for the next five years. QS 11-5 Payback period LO P1 Compute Project A's payback period. Payback Period Choose Denominator: Choose Numerator: Payback Period = Payback period 0 Required information Use the following information for the Quick Study below. (The following information applies to the questions displayed below.) Project A requires a $440,000 initial investment for new machinery with a five-year life and a salvage value of $30,000. The company uses straight-line depreciation. Project A is expected to yield annual net income of $24,400 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: Accounting Rate of Return Choose Denominator: 1 = Accounting Rate of Return Accounting rate of return 0