Project A requires a $395,000 initial investment for new machinery with a five-year life and a salvage value of $38,500. Project A is expected to yield annual income of $23,000 per year and net cash flow of $98,750 per year for the next five years. Compute Project A's accounting rate of return. Numerator: Accounting Rate of Return Denominator: Accounting Rate of Return Accounting rate of return 0