Boccardi Inc., has invested in new pasta manufacturing equipment at a cost of $48.000. The equipment has an estimated useful life of eight years. Estimated annual sales and operating expenses related to the pasta equipment follow Annual sales Labor costs Depreciation of equipment Operating income Income taxes Net income $ 88,000 (72,000) (6,000) $ 10,000 (4,000) $ 6,000 The estimated accounting rate of return is Multiple Choice