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Required information The following information applies to the questions displayed below.] Metro Car Washes, Inc. is reviewing an investment proposal. The initial cost as well as the estimate of the book value of the investment at the end of each year, the net after-tax cash flows for each year, an d the net income for each year are presented in the following schedule. The salvage value of the investment at the end of each year is equal to its book value. There would be no salvage value at the end of the investment's life Initial cost and Book Value Annual Net After-Tax Cash Flows Annual Net Income Year $105,000 70 , 42, 000 21, 008 7, 000 $50, 080 45, 900 40, 008 35, 000 30, 069 $15, 800 17, 00 19, 000 21, 900 23, 000 Management uses a 16 percent after-tax target rate of return for new investment proposals. Use Appendix A for your reference. (Use appropriate factor(s) from the tables provided,) A for your reference. (Use appropriate factor(s) from the tables provided.) 2. Calculate the accounting rate of return on the investment proposal. Bas e your calculation on the initial cost of the investment. (Roun d your "Percentage" answer to 2 decimal places (i.e., 1234 should be entered as 12.34).)