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Chambers Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in

Chambers Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $58970. The equipment will have an initial cost of $391000 and have a 15 year life. The salvage value of the equipment estimated to be zero, what is the accounting rate of return? Answer as a percentage with 2 decimals. If your answer 1234, answer 12.34 (do not use the percentage sign) A Moving to another question will save this response.

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