Accounting Rate of Return Problem: ABC Company is considering investing in a machine that costs $60,000. The salvage value of the machine is $5,000. The company expects to earn an annual after-tax net income of $16,250. Assume net cash flows occur uniformly over each year and company uses straight-line depreciation. What is the machine's accounting rate of return? Enter the number in decimal form. Your answer should ONLY include the decimal and number, do not include any other symbols, signs, or text