Accounting Rate of Return Each of the following scenarios is independent. Assume that all cash flows are after-tax cash flows. a. Cobre Company is considering the purchase of new equipment that will speed up the process for extracting copper. The equipment will cost $3,800,000 and have a life of 5 years with no expected salvage value. The expected cash flows associated with the project are as follows Cash Revenues $6,000,000 6,000,000 6,000,000 6,000,000 6,000,000 Year Cash Expenses $4,800,000 4,800,000 4,800,000 4,800,000 4,800,000 1- 2 4