A company is planning to purchase a machine that will cost $31,800 with a six-year life and 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? $100,000 Sales Coots Manufacturing Depreciation on machine Selling and administrative expenses Income before taxes Income tax (351) Net Income $50,700 5,300 40,000 (96.000) $ 4,000 (1,400) $ 2,600 Multiple Choice 33331 o 90.00% 16:35