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A new project has an initial cost of $175,000. The equipment will be depreciated on a straight-line basis to a book value of $67,000 at

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A new project has an initial cost of $175,000. The equipment will be depreciated on a straight-line basis to a book value of $67,000 at the end of the four-year life of the project. The projected net income each year is $15,400, $18,150, $23,500, and $15,300, respectively. What is the average accounting return? Multiple Choice 16.02 % 8.27% 20.67 % 14.95% 18.34%

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