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A project has an initial cost of $66,000 and a four-year life. The company uses straight-line depreciation to a book value of zero over the

A project has an initial cost of $66,000 and a four-year life. The company uses straight-line depreciation to a book value of zero over the life of the project. The projected net income from the project is $2,600, $4,200, $4,800, and $4,500 a year for the next four years, respectively. What is the average accounting return?

24.39 percent

12.20 percent

44.85 percent

6.10 percent

8.20 percent

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