Palmer Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net income after tax of $162,000. The equipment will have an initial cost of $540,000 and have a 7 year life. If the salvage value of the equipment is estimated to be $64,000, what is the accounting rate of return? Multiple Choice 4711% 19.28% 30.00% Multiple Choice O 47.11% 19,28% 30.00% 152.37%