Accounting Rate of Return WeCare Cinic is planning on investing in some new echocardiogran equlpmert that will require an initial outlay of $165,000. The system has an expected ife of five year and no expected salvage value, The imvestment is expected to produce the following net cash flows over its life: $72,000,$68,000,$90,000,$90,000, and $109,000. Required: 1. Calculate the annual net income for each of the five vears. 2. Calculate the accounting rate of retum. Enter your answer as a whole percentage value (for example, 16% should be entered as "16"). \% should be entered as 16 ). W Using the accounting rate of return metrie, whach project should be selected: the first of the iecond? Why might the second project be preferred over the first projoct