please help with the average investment

Exercise 24-6 (Algo) Payback period, equal cash flows, and accounting rate of return LO Pl, P2 82B Company is considering the purchase of equipment that would allow the company to add a new product to its line. The equipment costs $480,000 and has a 12-year life and no salvage value. The expected annual income for each year from this 2.5 )0ints 160, 4, 3, $ 70, equipment follows. Sales of new product Expenses Materials, tabor, and overhead (except depreciation) DepreciationEquipment Selling, general, and administrative expenses Income (a) Compute the annual net cash flow. (b) Compute the payback period. (c) Compute the accounting rate of return for this equipment. $ 30, Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required C Required A Required B Compute the accounting rate of return for this equipment. Numerator: Annual income 70,000 e Accounting Rate of Return Denominator: Average investment 480,000 0 Accounting rate of return 14.58