A company is planning to purchase a machine that will cost $24,000 with a six-year ife and no salvage value. The company uses straight-line depreciation. The company expects to sell the machine's output of 3,000 units evenly throughout coch yoor A projected income statement for each year of the asset's life appears below. What is the accounting rate of return for this machine? $ 108,000 Sales Costs: Manufacturing Depreciation on machine Selling and administrative expenses Income before taxes Income tax (40%) Net income $51,500 4,000 48,000 (103,500) 4,500 (1, 800) $ 2,700 Multiple Choice 50.00% 11.25% 22.50% 33.33% +++ 4.00%