A company is planning to purchase a machine that will cost $34,200, will have a six-year life, and will have no salvage value. The company expects to sell the machine's output of 3,000 units evenly throughout each year. A projected income statement for each year of the asset's life appears below. What is the accounting rate of return for this machine? Sales Costs: Manufacturing Depreciation on machine Selling and administrative expenses Income $ 104,000 $ 51,100 5,700 44,000 (100,800) $ 3,200 Multiple Choice 5.70% 6.55% 33330