Required Information [The following information applies to the questions displayed below] Project A requires a $360,000 initial investment for new machinery with a five-year life and a salvage value of $39,500 The company uses straight-line depreciation. Project A is expected to yield annual net income of $29,600 per year for the next five years. Compute Project A's accounting rate of return Answer is complete but not entirely correct. Choose Numerator: Annual after-tax net income Accounting Rate of Return Choose Denominator: Annual average investment Accounting Rate of Return, 29,600 $ 360,000 Accounting rate of return 822