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Bodner Corporation purchased an asset costing $440,000. The asset has a 4 year life, no salvage value, and is depreciated on a straight line method.
Bodner Corporation purchased an asset costing $440,000. The asset has a 4 year life, no salvage value, and is depreciated on a straight line method. During the past four years, Bodner posted net income of $30,000, $20,000, $18,000 and $15,000. Given the following information, calculate the company's average accounting return over the past four years. Enter the AAR as a decimal to 4 decimal places. Do not enter a % sign.
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