Accounting rate of return. Consider two Independent projects, A and B, with cash flows presented in Table 1 . Assume that the cost of capital, l.e. the required rate of return is 12%. Note the Year 0 cash flow represents the initial cost of each project. a. What is the average accounting rate of return (ARR) for project A? 90 Roufal your antiner to two osecmakt b. What is the average accounting rate of retum (ARR) for project B? % C. If the two projects are mutually exclusive, which of the two should be selecte using the ARR? Choose prapetan Chicuse trojert 8