Exercise 24-5 (Algo) Accounting rate of return LO P2 Information for two alternative projects involving machinery investments follows: Initial investment Project 1 $ (135,000) Project 2 $ (105,000) Salvage value 15,000 Annual income 16,875 15,600 a. Compute accounting rate of return for each project b. Based on accounting rate of return, which project is preferred? Complete this question by entering your answers in the tabs below. Required A Required B Compute accounting rate of return for each project. Project 1 Project 2 Numerator Accounting Rate of Return Denominator Required A Required B > Accounting rate of retur