31 00:22:46 A project requires a $2,930,000 initial investment for new machinery with a five-year life and a salvage value of $326,000. The project is expected to yield annual income of $260,480 per year and net cash flows of $713,000 per year for the next five years. The project's accounting rate of return is: Multiple Choice 24.9%. 20.0%. 48.1%. 4.0%.

A project requires a $2,930,000 initial investment for new machinery with a five-year life and a salvage value of $326,000. The roject is expected to yield annual income of $260,480 per year and net cash flows of $713,000 per year for the next five years. The project's accounting rate of return is: Multiple Choice 24.9% 200% 481% 406