Information for two alternative projects involving machinery investments follow. The accounting rate of return for Project 1 is: 7 Year Initial investment Salvage value Annual income Project 1 $ (300,000) 0 36,000 Project 2 $ (240,000) 26,000 30,000 8 02:52:11 Multiple Choice 23.1%, O O 11.5%. O 12.0% O 24.0% 25.0%