Michael Inc. is considering two alternative investment proposals with the following data: Proposal x $ 812,500 8 years Proposal Y $ 390,000 8 years Investment Useful life Estimated annual net cash inflows for 8 years Residual value Depreciation method Required rate of return $ 125,000 $ 40,000 Straight-line 14% $ 78,000 $ - Straight-line 10% Refer to Michael Inc. What is the accounting rate of return for Proposal X