QUESTION 19 McAfee Automobiles Manufacturing is considering two alternative investment proposals with the following data: Proposal X Proposal Y Investment Useful life $11,800,000 $470,000 5 years 5 years Estimated annual net cash inflows for 5 years $2,360,000 $103,000 Residual value $58,000 $34,000 Depreciation method Straight-line Straight-line Required rate of retur 12% 10% Calculate the accounting rate of return for Proposal Y. (Round any intermediate calculations and your final answer to two decimal places.) 16.10% 10.80% 6.27% 10.63%