Information for two alternative projects involving machinery investments follows: Project 1 Initial investment $ (128,000) Project 2 $ (98,000) Salvage value 18,000 Annual income 14,080 11,600 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 11 Project 2 Numerator Accounting Rate of Return Denominator Accounting rate of retum 0 Required B > Information for two alternative projects involving machinery investments follows: Project 1 Initial investment $ (128,000) Project 2 $ (98,000) Salvage value 18,000 Annual income 14,080 11,600 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 Requir Based on accounting rate of return, which project is preferred? Based on accounting rate of return is preferred Required A