ABC Company is planning to purchase a machine that will cost $26,400. The new machine will have a six-year life and no salvage value. The company uses straight-line depreciation. The company expects to sell the machine's output of 3,000 units evenly throughout each year. A projected income statement for each year of the asset's life appears below. $ 93,000 Sales Costs: Manufacturing Depreciation on machine Selling and administrative expenses Income before taxes Income tax (40%) Net income $50,000 4,400 33,000 (87,400) $ 5,600 (2,240) $ 3,360 What is the accounting rate of return for this machine? Multiple Choice