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Mosaic Tile Company is considering an investment in new equipment costing $854,000. The equipment will be depreciated on a straight - line basis over a five - year life and is expected to have a residual value of $50,000. The equipment is expected to generate net cash inflows of $1,002,000 in total during the five-year life. What is the accounting rate of return associated with the equipment investment? (Round your answer to two decimal places.) A. 9.31% B. 50.06% C. 9.97% D. 8.76%