ay at the end of Years 10, 11, and 12. Use a discount rate of 12 percent. Payback period and Accounting Rate of Return: Equal Annual Operating Cash Flows without Disinvestment Juliana is considering an investment proposal with the following cash flows: Initial investment-depreciable assets $49,000 Net cash inflows from operations (per year for 10 years) 7,000 Disinvestment 0 For parts b. and c, round answers to three decimal places if applicable. a. Determine the payback period. years b. Determine the accounting rate of return on initial investment. c. Determine the accounting rate of return on average investment