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The Silverside Company is considering investing in two alternative projects: Project 1 Project 2 Investment $700,000 $260,000 Useful life (years) 7 8 Estimated annual net cash inflows for useful life $60,000 $70,000 Residual value $35,000 $16,000 Depreciation method Straight-line Straight-line Required rate of return 9% 6% What is the payback period for Project 2? O A. 11.67 years OB. 7.43 years OC. 3.71 years OD. 20.00 years Siesta Manufacturing has asked you to evaluate a capital investment project. The project will require an initial investment of $69,000. The life of the investment is 5 years with a residual value of $6,000. If the project produces net annual cash inflows of $20,000, what is the accounting rate of return? (Round any intermediary calculations to the nearest dollar and your final answer to two decimal places, X.XX%.) O A. 8.99% OB. 3.45% O C. 10.72% OD. 28.99%