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5 years Tiberius Manufacturing is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment $11,100,000 $450,000 Useful life 5 years Estimated annual net cash inflows for 5 years $2,220,000 $104,000 Residual value $55,000 $20,000 Depreciation method Straight-line Straight-line Required rate of return 14% 13% Calculate the accounting rate of return for Proposal Y. (Round any intermediate calculations and your final answer to two decimal places.) A. 19.40% B. 7.66% C. 14.00% D. 12.31%