Belmont Corporation is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net operating income of $230,000. The equipment will have an initial cost of $1,000,000 and an 8 -year useful life. If there is no salvage value of the equipment, what is the accounting rate of return? Multiple Chelce 15.5% 23.0% 46.0% 18.0%