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A project has an annual rate of return of 15 %. The project cost $ 240000 , has a 5 -year useful life, and has

A project has an annual rate of return of 15%. The project cost $240000, has a 5-year useful life, and has no salvage value. Straight-line depreciation is used. The annual net income, exclusive of depreciation, is

$36000.

$95400.

$84000.

$66000.

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