Project A requires a $305,000 initial investment for new machinery with a five-year life and a salvage value of $30,500. The company uses straight-line depreciation. Project A is expected to yield annual net income of $21,400 per year for the next five years. Compute Project A's payback period. Answer is complete but not entirely correct. Choose Numerator: Payback Period Choose Denominator: Annual net cash flow $ 51,900 Cost of investment Payback Period Payback period 5.88 years 305,000 Project A requires a $305,000 initial investment for new machinery with a five-year life and a salvage value of $30,500. The company uses straight-line depreciation. Project A is expected to yield annual net income of $21,400 per year for the next five years. Compute Project A's accounting rate of return. Accounting Rate of Return Choose Denominator: Choose Numerator: = Accounting Rate of Return Accounting rate of return