A project requires a $2,990,000 initial investment for new machinery with a five-year life and a salvage value of $338,000. The project is expected to yield annual income of $249,600 per year and net cash flows of $719,000 per year for the next five years. The project's accounting rate of return is: Multiple Choice 49.4%. 5.3%. 20.3%. 15.0%. 25.8%. A project requires a $41,000 initial investment and is expected to generate end-of-period annual cash inflows as follows: Year 1 $ 18,500 Year 2 $ 19,500 Year 3 $ 18,500 Assuming a discount rate of 13%, what is the net present value (rounded to the nearest whole dollar) of this investment? Selected present value factors for a single sum are shown in the table below. i = 13% n = 1 0.8850 i = 13% i = 13% n = 2 n = 3 0.7831 0.6931 Multiple Choice $0 $(3,836) $44,465 $3,465 $(13,197)