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A project has an annual rate of return of 15%. The project cost $270000, has a 5-year useful life, and has no salvage value. Straight-

A project has an annual rate of return of 15%. The project cost $270000, has a 5-year useful life, and has no salvage value. Straight- line depreciation is used. The annual net income, exclusive of depreciation, is O $74250. O $40500. $107325. O $94500.

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