Information for two alternative projects involving machinery investments follows: Initial investment Salvage value Annual income Project 1 $ (129,000) 0 12,980 Project 2 $ (99,000) 19,000 12,390 a. Compute accounting rate of retum 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. Accounting Rate of Return Numerator: Denominator Accounting rate of return Project 1 Project 2 Remed Required B > Complete this question by entering your answers in the tabs below. Required A Required B Based on accounting rate of return, which project is preferred? Based on accounting rate of retum is preferred