A project requires a $2,960,000 Initial Investment for new machinery with a five-year life and a salvage value of $332,000. The project is expected to yield annual income of $238,670 per year and net cash flows of $716,000 per year for the next five years. The project's accounting rate of return is Multiple Choice 25.3% 57% o 14.5% O 20.2% 48.79