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A new manufacturing machine is expected to cost $556,000, have an eight-year life, and a $60,000 salvage value. The machine will yield an annual income

A new manufacturing machine is expected to cost $556,000, have an eight-year life, and a $60,000 salvage value. The machine will yield an annual income of $69.96 Annual depreciation expense is $62,000 per year Compute the accounting rate of return for the investment Multiple Choice O 22.7% 23.4% 0.49 12228 O 24.5%

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