Plant Company is contemplating the purchase of a new plece of equipment for $59,000. Plant is in the 20% Income tax bracket. Predicted annual after-tax cash Inflows from this Investment are $16,000, $14,000, $15,000, $15,000 and $5,000 for years 1 through 5, respectively. The firm uses straight-line depreciation with no residual value at the end of five years. The hurdle rate for accepting new capital Investment projects is 4%, after-tax. The estimated accounting rate of return (ARR) on this project (rounded to two decimal points), based on the Initial Investment is: Multiple Choice O 2.03% 2.69% O O % 6.03% O 9.36% O 11.36%