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A company buys a machine for $60,000 that has an expected life of 9 years and no salvage value. The company anticipates yearly cash flows

A company buys a machine for $60,000 that has an expected life of 9 years and no salvage value. The company anticipates yearly cash flows of $9,477. What is the accounting rate of return? You should round your answer to 4 decimal places. For example, put your answer of 13.45% as .1345.

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