12. An investment has an initial cost of $3.2 million. This investment will be depreciated by $900, 000 a year ov by this amou rate of return if the required rate is 10.1 percent? Why or why not? er the 3-year life of the project, thereby reducing the book value nt each year. Should this project be accepted based on the average accounting YearNet Income 2 3 $211,700 186,400 165,500