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7. A project costs RM29,000 and is expected to have a useful life of three years at which points its scrap value will be RM5,000.

7. A project costs RM29,000 and is expected to have a useful life of three years at which points its scrap value will be RM5,000. The project is expected to yield net profits of RM1,000 per annum over its useful life. Using the average book value of the asset, calculate the accounting rate of return

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