Question
Phoenix Company projects an increase in net income of $23817 each year for the next five years if it invests $113853 in new equipment. The
| Phoenix Company projects an increase in net income of $23817 each year for the next five years if it invests $113853 in new equipment. The equipment has a five-year life and an estimated salvage value of $5822. What is the annual rate of return on this investment? Round your answer to 2 decimal places. Answer as a percentage | ||
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
