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A company bought a machine that has an expected life of six years and $ 2 , 0 0 0 salvage value. Management estimates that

A company bought a machine that has an expected life of six years and $2,000 salvage value. Management estimates that this machine will generate annual after-tax net income of $800. If the accounting rate of return is 10%, what was the purchase price of the machine?
$28,000
$12,000
$14,000
$17,000
$10,000
$16,000
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