Accounting Rate of Return WeCare Clinic is planning on investing in some new echocardiogram equipment that will require an initial outlay of $150,000. The system has an expected life of five years and no expected salvage value. The investment is expected to produce the following net cash flows over its life: $77,000, $79,000, $93,000, $84,000, and $100,000. Required: 1. Calculate the annual net income for each of the five years. Net Income Year 1 $ 47,000 Year 2 $ 49,000 Year 3 $ 63,000 Year 4 $ 54,000 Year 5 70,000 2. Calculate the accounting rate of return. Enter your answer as a whole percentage value (for example, 16% should be entered as "16"). 38 % 3. What if a second competing revenue-producing investment has the same initial outlay and salvage value but the following cash flows (in chronological sequence): $100,000, $100,000, $100,000, $77,000, and $28,000? Calculate its accounting rate of return. Enter your answer as a whole percentage value (for example, 16% should be entered as "16"). %